''Georgia's business and investment environments are stable'', the report on the investment climate in 170 countries, including Georgia, published by the US State Department, reads.
The document notes Georgia's leading positions in the World Bank's Doing Business ranking and the International Transparency Corruption Index.
The following reforms carried out by the Georgian government are highlighted: changes in the Tax Code (Estonian model), pension reform, insolvency (bankruptcy) reform, constitutional changes, changes in the Labor Code, and justice reform.
The progress made by the government in the fight against corruption is praised. ''But the so-called elite corruption remains,'' the report reads.
Having studied the investment environment in Georgia, American experts note that the country occupies high positions in the region, although there are also problems.
"However, some companies are expressing growing distrust of the judicial sector's ability to independently, timely and competently handle commercial cases. Some business dispute cases drag on in the court system for years.
Other companies complain about ineffective decision-making processes at the municipal level and shortcomings in the enforcement of intellectual property rights, lack of effective antitrust policies, selective application of economic laws, and difficulties in resolving property disputes.
The Georgian government continues to solve these problems, and despite these remaining challenges, Georgia is leading in the region as an excellent place to do business," the report says.
Bela Gelashvili
News Author