19.Mar .2020 17:54

The OECD: Georgia has improved its position in all 12 categories in the SME Policy Index - 2020

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OECD: Georgia has improved its position in all 12 categories in the SME Policy Index - 2020

Georgia has improved its position in all 12 categories in the SME Policy Index - 2020 published by the Organisation for Economic Cooperation and Development (OECD) since the previous report that was published in 2016, announces the Georgian Ministry of Economy.

In nine out of 12 categories Georgia, received the highest scores among the countries of the Eastern Partnership (Armenia, Azerbaijan, Belarus, Moldova and Ukraine).

“From an already strong position, Georgia has made further progress since 2016 by adopting a more strategic approach to small and medium-sized entrepreneurship development through targeted initiatives. The adoption of the SME Development Strategy 2016-2020 and respective action plans, the improvements made to entrepreneurial learning and women’s entrepreneurship, the continued simplification of business registration, and the increase in e-government services have drastically improved the operational environment for SMEs", read the report.

The OECD report recommended that the government of Georgia should prioritise the creation of level-playing-field conditions for enterprises of all sizes and provide for more-efficient enforcement of contracts and competition law.

“Moreover, strengthening the support provided to exporting SMEs (including targeted financing tools) would be of crucial importance – as would expanding the links between foreign direct investment and domestic businesses beyond pilot projects, to further attract quality FDI and increase the competitiveness of Georgian SMEs", read the report.

The SME Policy Index assesses and monitors progress in the design and implementation of SME policies against EU and international best practice. This report marks the third edition in this series, following assessments in 2012 and 2016.