On Monday, (28th Oct 2013) the World Bank’s latest Doing Business 2014 report upgraded Georgia one step up to the 8th place in its global ranking. Since inception in 2003, the Doing Business report which ranks 189 countries on 10 criteria has become an important tool for governments eager to attract investment and private enterprise. Georgia’s advancement to the 8th place in the 2014 report was mainly due to gains in Paying Taxes, Trading Across Borders and Resolving Insolvency categories tracked by the rankings. This places Georgia ahead of all the other economies in the Eastern Europe and Middle East regions, with Lithuania and Estonia coming in the 17th and 22nd places, respectively. This positive news in Georgia comes right after another milestone necessary for an attractive investment climate in the country. Georgia held peaceful and democratic presidential elections on Sunday 27thOctober. We believe that President-elect, Mr. Giorgi Margvelashvili, will continue Georgia’s democratic development.
