The World`s Leading Reformer The World Bank hails Georgias meteoric five-year rise from 112thin 2005 to 11th in the 2010 World Bank & IFC “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.”
Strategic Geographic Location Georgias strategic location is an asset to any investor. As a bridge between Europe and Asia, Georgia offers direct access to European, GCC and CIS markets. Its 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 the East and West.
Stable Macroeconomic Environment Consistent macroeconomic policies are producing strong economic growth, with GDP increases of close to 10% before the crisis, reaching max of 12% in 2007. Despite the slowdown caused by the global financial crisis, Georgias real GDP growth rate was 6.4% in 2010.
Liberal Trade Regimes Georgia has low tariffs, streamlined border clearance procedures and preferential trade regimes with major partners, including the EU, the U.S. and free trade with Turkey and CIS countries. Georgia has been a member of the WTO since 2000 and has no quantitative restrictions on trade.
Low Taxes Georgias Tax System can be summarized as “Fewer Taxes, Lower Rates”. Since 2004, the number of taxes was decreased from 21 to only 6 today. These improvements have made Georgia one of the most attractive tax regimes globally. In 2008, Forbes Magazine designated Georgia as the “4th Least Tax-Burdened Country”.
Simplified Licensing and Permitting Procedures The Government of Georgia is working hardly to sustain future development of the Economy of Georgia. New Financial and Economic acts have been adopted by the Parliament, which obviously will help to maintain strong economic growth in Georgia.
Developing Infrastructure In order to further exploit the full potential of the Georgia s strategic location and encourage foreign investment in the sector, the Government of Georgia, in cooperation with private enterprises, continues to develop infrastructure – roads, railways, sea ports, and airports, while simplifying customs and other administrative procedures including licensing reforms.
Business Friendly Environment Georgia has been rated as the world`s one of the best countries for doing business on the basis of its business infrastructure, financial, legal and professional services, and its low and simple tax system. The WB s report on Doing Business 2011 can easily prove Georgia as one of the best destination for investors.
World`s Leader in Labor Freedom and Labor Force 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.
Diverse Investment Sectors With well-diversified investment sectors in energy, healthcare, agriculture, telecommunications, real estate & construction and infrastructure development, Georgia is not simply another marketplace, it is a genuine opportunity.