Georgian
industry is very entrepreneurial and highly motivated to develop rapidly.
As
industries in Georgia develop, firms and investors are looking for
opportunities to invest. The combination of dynamic economic growth,
pro-business legislation, a liberal tax code,
a strong legal framework to
protect investors and an educated and skilled workforce
presents a solid
platform for successful business in Georgia.
More
than 4,600 companies in Georgia were established by foreign investors. These
firms have capitalized upon the skills and talents of Georgia's multi-lingual
and highly educated workforce.
Here are some facts that might explain this amazing move:
The World`s Leading Reformer The World Bank hails Georgia's meteoric five-year
rise from 112th in 2005 to 11th in the 2010 World Bank & IFC “Doing
Business” Index as unprecedented. “Since the World Bank began keeping records,”
says survey author Simeon Djankov, “no other country has made so many deep
reforms in so many different areas so consistently.”
Strategic Geographic
Location Georgia's strategic
location is an asset to any investor. As a bridge between Europe and Asia,
Georgia offers direct access to European, GCC and CIS markets. Its three major
oil and gas pipelines, Black Sea ports, well-developed railway systems,
together with its airports are playing an increasingly important role in
linking the East and West.
Stable Macroeconomic
Environment Consistent macroeconomic policies are producing strong economic growth.
Despite the slowdown
caused by the global financial crisis, Georgian officials predict a GDP growth
rate of 4-5% in 2010.
Liberal Trade Regimes Georgia has low tariffs, streamlined border
clearance procedures and preferential trade regimes with major partners,
including the EU, CIS countries, the U.S. and Free Trade with Turkey. Georgia
has been a member of the WTO since 2000 and has no quantitative restrictions on
trade.
Low Taxes
Personal income tax is a
flat 20% while corporate income tax rates are a flat 15%. These improvements
have made Georgia one of the most attractive tax regimes globally.
Simplified Licensing and Permitting Procedures The Government of
Georgia is working hardly to sustain future development of the Economy of
Georgia. New Financial and Economic acts have been adopted by the Parliament,
which obviously will help to maintain strong economic growth in Georgia.