MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Ekaterina Mikabadze: It is important that the businesses correctly evaluated the measures implemented in order to provide the protection and security of their ownership rights

17-10-2018

“While elaborating the Global Competitiveness Index, the World Economic Forum uses business survey methodology. Thus, it is important that the business are not only launched and operating, but the businesses correctly evaluated the measures implemented in order to provide the protection and security of their ownership rights,” – the Deputy Minister of Economy and Sustainable Development, Ekaterine Mikabadze commented on Georgia’s improved position in the Global Competitiveness Index.

According to the Global Competitiveness Index, Georgia’s position is improved by one step. The study evaluated the competitiveness of 140 countries and Georgia’s position, compared to the previous year, is improved and it is on the 66th position.

Significant improvements were recorded in the 2018 ranking – in particular, Georgia’s positions were improved in 8 out of 12 rankings, while the ranking were decreased in only 4 positions. 

It is noteworthy that Georgia has one of the highest ratings in terms of safety and it is in the 29th position among 140 countries with 86.3 points. This direction comprises 4 components and Georgia's scores are improved in all four directions.

According to Ekaterine Mikabadze, it is especially important that Georgia improved position in such an significant component as the institutional strength of the country. According to the Deputy Minister, the country has improved its positions in such important directions as property rights, intellectual property rights, efficiency of regulations, freedom of the press, e-governance, trust towards police, small number of murders and more. It should also be noted that the improvements were recorded in such components as readiness to introduce information technologies, health care, openness of trade, market dynamism, innovative skills, labor market and market volume. According to the Deputy Minister of Economy and Sustainable Development, business circles operating in Georgia, gave the correct evaluation of the current situation, and the Index will be a good message for potential investors to make their choice on Georgia.

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