The Ranking of Heritage Foundation discussed at the Joint Press Conference of BAG and MoF

27 Sep '10

Minister of Finance of Georgia, Mr. Kakha Baindurashvili, President of the Business Association of Georgia, Mr. George Chirakadze and First Vice President of the Association, Mr. George Isakadze held joint press conference at Courtyard Marriott Hotel on September 24, to discuss the recently published ranking of Heritage Foundation.
According to this index, Georgia has advanced by 20 ranks and positioned on the 26th one. Pursuant to this assessment, Georgia, As stated by the Minister of Finance, Heritage Foundation's index relies on the components such as liberal business climate in the country, liberal business regulatory legislation, tax environment, low tax rates etc.
According to Mr. George Isakadze, GoG's targeted efforts and awareness campaign on attraction of foreign investments is gradually reflected on the dynamics of investment flow and on country's overall economy.
As voiced by the President of the Business Association, Mr. George Chirakadze: "We've been continuously hearing that there business has problems in Georgia and these problems do exist. We should not forget that a lot has been changing recently. Based on the experience of my own company I can say that doing business in Georgia has become easier than in the US. As for the taxes, they really are low in the country and almost all businessmen confirm it. Overall, as for the taxes Georgia is in quite a normal situation. Recently published assessment of Heritage Foundation will help us to attract much more investors and to have the sense of stability".
Moreover, UGT whose President is Mr. George Chirakadze, is the first Georgian company which is simultaneously operating in the USA.