|
|
The World’s Leading Reformer
| |
 |
The World Bank hails Georgia’s meteoric three-year rise from 112th in 2005 to 18th on the 2008 World Bank Doing Business index as unprecedented. Since the World Bank began keeping records, says survey author Simeon Djankov, no other country has made so many deep reforms in so many different areas so consistently.
Read more |
| Strategic Geographic Location |
 |
Located at the crossroads of Europe and Central Asia, Georgia’s three major oil and gas pipelines, Black Sea ports, well-developed railway systems, together with its airports are playing an increasingly important role in linking East and West. |
| Stable Macroeconomic Environment |
 |
Consistent macroeconomic policies are producing strong economic growth, with GDP increases of close to 10% in 2005 and 2006, and forecasts of greater than 12% for 2007. |
| Competitive Trade Regimes |
 |
Georgia has low tariffs, streamlined border clearance procedures and preferential trade regimes with major partners, including the EU, CIS countries, Turkey and the U.S. |
| Low Taxes |
 |
Fewer taxes, lower rates, including flat tax rates on personal income (12%), and corporate profits (20%), make Georgia the most attractive tax regime in the region. Further cuts are planned. |
| World's Leader in Labor Freedom and Literacy |
 |
Georgia's new Labor Code, hailed as one of the world’s best in international rankings, reduces labor costs and gives greater freedom of contract to employers and employees. Simultaneously, Georgia offers the world’s most literate workforce, and very competitive prevailing wage rates. |
| Simplified Licensing and Permitting Procedures |
 |
The total number of licenses and permits required in Georgia has been slashed by 84%, and statutory deadlines imposed for government to respond to applications. The “one-stop shop” and “silence is consent” principles were also introduced. |
| Aggressive Privatization Policy |
 |
Privatization of state-owned property is increasing investment and improving Georgia’s competitiveness. Investors may initiate an expedited, competitive process to privatize assets needed for an investment project. |
| Dynamic Banking Sector |
 |
The banking sector, which is completely private, is growing rapidly, as foreign investors enter the sector and Georgian banks tap international capital markets. |
| Corruption-Free Environment |
 |
Tough anti-corruption measures have significantly improved tax and customs administration and increased state revenues, scaled back Georgia’s shadow economy, and produced a significant decrease in corruption in the public and private sectors as measured by international ratings. |
|
It is easy now to set up companies in Georgia and safe to bring capital from abroad.
Gilbert Hie
Bank Republic, Societe Generale Group, CEO
|
