WORLD BANK SAYS GEORGIA TOP REFORMER, ARMENIA AHEAD IN EASE-OF-DOING-BUSINESS

Civil Georgia, Georgia
Sept 6 2006

6 September 2006 – Georgia is ranked 37th in the world in terms of
the ease-of-doing-business index, according to the World Bank’s report
Doing Business 2007: How to Reform.

Georgia placed 100th in last year’s report, and the drastic improvement
in 2006 makes Georgia the top reformer of the year.

According to the report, Georgia made more progress than any other
country in the world through the introduction of flexible labor rules
and other reforms.

The report provides a global ranking of 175 economies on key business
regulations and reforms.

The report notes that social security contributions paid by businesses
in Georgia decreased from 31% of wages to 20%, making it easier for
employers to hire new workers, while the collection of corporate
taxes increased by 300%.

Romania and Mexico came in second and third, respectively, in terms
of reforms aimed at easing business.

>>From the CIS countries only Armenia, which is ranked 34th in the
report, is ahead of Georgia in the ease-of-doing-business index.