EuCham: Georgia improves its Business Rating

European Chamber (EuCham), a non-profit international organization based in Italy has published a list of the best European countries for business in 2019, which says that Georgia’s rating has improved by 1.98 points compared to the previous year and the country holds the 16th position with 71 points among 46 European countries.

Georgia was 18th among 46 European countries with a score of 62, last year.

“Nordic countries are still on the top of the list: Denmark, Norway, Sweden, and Finland, followed by the UK, Switzerland and Germany.

“Georgia and the Baltic countries (Estonia, Latvia, Lithuania) are outstanding exceptions among ex-Soviet states,” the report reads.

To reveal countries best in terms of investment attractiveness, the research uses the World Bank’s Doing Business and Transparency International’s Corruption Perception indexes.

Georgia improved its position in the Doing Business (DB) 2019 report of the World Bank (WB), coming in at 6th place out of 190 countries, improving its position by 3 points.

In DB 2019, Georgia's score improved by 1.24 points and reached 83.28 points. Previously, Georgia’s score was 82.04 points.

Georgia is the 41 least corrupt nation out of 175 countries, according to the 2018 Corruption Perceptions Index reported by Transparency International.

The report studied different countries’ perceived corruption levels in the public sector. Georgia gained an overall score of 58 out of 100.

The Georgian Ministry of Economy says that according to the best European countries for business 2019, Georgia leads the countries in the region with a higher score than Lithuanian (18th position), Latvia (19th position), Poland (20th position), Slovenia (22nd position), Czech Republic (23rd position), Slovakia (25th position), Belarussia (27th position), Croatia (29th position), Macedonia (31st position), Hungary (32nd position), Turkey (34th position), Armenia (39th position), Kazakhstan (40th position), Moldova (42nd position), Russia (42nd position), Azerbaijan(44th position) and Ukraine (46th position).