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Georgia has Advanced to the Top 10 List of Ease of Doing Business

Published: October 23, 2012 | 10:55 am
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The COMMERCIAL TIMES

Georgia, the new entrant in the top 10, ranks number 9 on the Ease of Doing Business 2013 list published today. Joining it on the list of the top 10 economies with the most business-friendly regulation were Singapore, Hong Kong SAR, China, New Zealand, the United States, Denmark, Norway, the United Kingdom, the Republic of Korea and Australia. Singapore topped the global ranking on the ease of doing business for the seventh consecutive year.

Georgia has continued its upward march, improving from No. 12 last year. It rated No. 1 on “Registering Property” and No. 3 on “Dealing with Construction Permits”.

According to the report, Poland was the global top improver in the past year. It enhanced the ease of doing business through four institutional or regulatory reforms, making it easier to register property, pay taxes, enforce contracts, and resolve insolvency.

Besides Poland, nine other economies are recognized as having the most improved ease of doing business across several areas of regulation as measured by the report: Sri Lanka, Ukraine, Uzbekistan, Burundi, Costa Rica, Mongolia, Greece, Serbia, and Kazakhstan.

Worldwide, 108 economies implemented 201 regulatory reforms in 2011/12 making it easier to do business as measured by Doing Business. Reform efforts globally have focused on making it easier to start a new business, increasing the efficiency of tax administration and facilitating trade across international borders. Of the 201 regulatory reforms recorded in the past year, 44% focused on these 3 policy areas alone. Read about reforms.

Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises assesses regulations affecting domestic firms in 185 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders. This year’s report data cover regulations measured from June 2011 through May 2012. The report marks the 10th edition of the Doing Business series. Over the past decade, these reports have recorded nearly 2,000 regulatory reforms implemented by 180 economies.

 

 

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