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TBILISI: World Bank Says Georgia Top Reformer, Armenia Ahead In Ease

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  • TBILISI: World Bank Says Georgia Top Reformer, Armenia Ahead In Ease

    WORLD BANK SAYS GEORGIA TOP REFORMER, ARMENIA AHEAD IN EASE-OF-DOING-BUSINESS

    Civil Georgia, Georgia
    Sept 6 2006

    6 September 2006 - Georgia is ranked 37th in the world in terms of
    the ease-of-doing-business index, according to the World Bank's report
    Doing Business 2007: How to Reform.

    Georgia placed 100th in last year's report, and the drastic improvement
    in 2006 makes Georgia the top reformer of the year.

    According to the report, Georgia made more progress than any other
    country in the world through the introduction of flexible labor rules
    and other reforms.

    The report provides a global ranking of 175 economies on key business
    regulations and reforms.

    The report notes that social security contributions paid by businesses
    in Georgia decreased from 31% of wages to 20%, making it easier for
    employers to hire new workers, while the collection of corporate
    taxes increased by 300%.

    Romania and Mexico came in second and third, respectively, in terms
    of reforms aimed at easing business.

    >>From the CIS countries only Armenia, which is ranked 34th in the
    report, is ahead of Georgia in the ease-of-doing-business index.
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