Forbes publishes the annual list of the best countries for making business. In this year’s ratings, Georgia holds 52nd position. Compared to the last year, Georgia’s rating has worsened by 9 positions.
Forbes states that main driver of Georgia’s economic activity is the agricultural production, including hazelnut, citrus and grape production. According to Forbes, Georgia imports almost the whole amount of natural gas and oil, needed for consumption. Besides, Georgia has abundant hydrological resources, by means of which the country is generating power.
“By reconstructing HPPs and replacement of Russian gas by the gas import from Azerbaijan, Georgia has overcome permanent energy and natural gas supply shortage”, is stated in Forbes. It is also noted that in 2006-2007, Georgia’s economy was rapidly growing, which growth was slowed down due to 2008 war and global economic crisis.
“In 2010-2016, economic growth was speeded up, however, the volume of investments did not improve fully”, is stated in the magazine, although Georgia has been highly evaluated by the World Bank with regard to tax liberalization.
Georgia’s positions in different criteria are as follows:
Trade freedom – 6th position
Monetary freedom – 81st position
Ownership rights – 88th position
Innovations – 117th position
Technologies – 69th position
Investor protection – 2nd position
Corruption – 38th position
Personal freedom – 65th position
Tax burden – 22nd position
For this rating, Forbes uses data provided by different organizations, including Freedom House, Heritage Foundation, Property Rights Alliance, United Nations, Transparency International, World Bank Group and World Economic Forum.
The ratings involve total of 153 countries.
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