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.
See all the news
Turkey to open doors to 31 countries for health tourism
Coronavirus: Boris Johnson moved to intensive care
First-Stage Land Usage Permit for APM Terminals Poti
How will Nenskra HPP Reduce the Electricity Import?
Carrefour: The product will be on the shelves with the prices same as before
Differences between tobacco and nicotine products
OECD cuts 2020 global growth forecast over virus
Georgia to export new armored vehicle Didgori Meomari
"Hotels are in shock, reservations are canceled" - Shalva Alaverdashvili
Georgian brand Entrée enters the UK market and opens its first facility in London
Frontera claims that Georgian government has started harassing the company since 2013
Company HotelFriend offers convenient eComerce platform to Georgian Touroperators
Will the head of "Anaklia Deepwater Port Development Agency" be replaced?
TOP-10 Exporter Companies from Georgia to Russia
TBC Bank Group announces certain changes to the composition of the Management Board
Silknet signed Memorandum of Understanding with Global Communications Company One Web
Prosecutor’s Office allows Avtandil Tsereteli to leave the country
Mamuka Khazaradze: We want to avoid arbitration, but the Consortium is ready for that
Reuters: Dutch city tells floating Georgian monastery to cast off
TBC Bank Group Shares up by 6.3% WoW on the LSE