Doing Business in Georgia
According to the World Bank’s most recent Doing Business ranking, Georgia is the 6th most business-friendly economy in the world. This is due to several key changes made in the way Georgian business operates. Firstly, Georgia made it less demanding to start a business by simplifying administrative procedures such as licensing or tax registration. Secondly, the Georgian government presented legislation that improved compliance methods and reduced the number of tax returns, making instalments easier.
Besides its western-oriented development, Georgia has noteworthy geographical advantages. Financial specialists see this country as having a great opportunity to become a corridor between the East and the West while helping neighbouring countries with integration and setting itself up as a regional centre for South Caucasus nations. Donors and investors appreciate the aspirations of the government and society to convert Georgia into a western country.
Tourism, infrastructure, and manufacturing are the finest areas in which to invest. A sign of the country’s colossal potential is the number of visitors, which increases year by year, reaching seven million in 2017. With the assistance of the World Bank, the government presently maintains a clear tourism strategy in order to maximise its benefits.