As you probably know, Georgia has an ancient history and a deep cultural heritage, but recently it has confronted political and economic challenges. Nonetheless, our path to development is steady. We are committed to looking for new opportunities and to maintaining economic growth and stability. Our main goal is to rise above our current difficulties, minimise the impact of the world economic crisis, and preserve the peace and well-being of the Georgian people.
Georgia has enjoyed significant economic growth in recent years, largely because of the robust inflow of foreign direct investment. When we adopted our reform agenda, we understood that the country’s business climate needed drastic change, and we rose to the occasion. Since 2003, we have drastically reduced corruption, minimised red tape, deregulated and liberalised all key sectors of the economy, simplified the tax system and issuance of licences and permits, and lifted trade barriers.
These bold measures paid off quickly, and now Georgia holds 11th place in the World Bank’s 2009 ‘Ease of Doing Business’ index. These steps allowed us to not only revitalise our domestic business climate; they also made Georgia a more attractive place to invest. Today, we are pleased to have both diverse sources of investment and an abundance of sectors into which those funds flow.