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Georgia is among top European destinations for doing business - EuCham Research

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BM.GE
12.02.19 23:45
635
Georgia has improved its position and now takes 16th place in the Best European Countries for Business report, published by the European Chamber (EuCham) a non-profit think tank headquartered in Italy.

In last year’s report Georgia was 18th among 46 European countries. Georgia’s neighbors Russia, Azerbaijan and Armenia are in the bottom of the list.

The nordic countries are 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.

EuCham ranks and analyses all 46 European countries according to their economic environment.

The European Chamber ranks European countries based on their business environment. The EuCham score, used for the ranking, originates from the average of the World Bank’s Ease of Doing Business score (EoDB, formerly called DTF - Distance To Frontier score) and Transparency International’s Corruption Perception Index (CPI). An economy’s EuCham score is reflected on a scale from 0 to 100, where 0 represents the lowest performance and 100 represents the best. Denmark tops the ranking with a score of 86, followed by Norway, Sweden, Finland, and the United Kingdom. Other researches, which do not take into consideration corruption issues, show different results as they only reflect on the capacity of countries' environments in order to address the corporate sector's desire to create financial results. The World Bank’s ranking is largely influenced by the effectiveness of regulations and by the time it takes to finalize corporate transactions.
EuCham considers integrity and transparency expectations as an equally important factor in the assessment.