4IpaUJbnm

2008 1
495,345.2
335,153.
8
540,884.
8
619,306.
6
6,301,54
0.3
2009 1
237,546. 416,162. 479,913. 4,500,24
133,622.4 8
3
3
4.1
2010 1
309,513. 676,672. 691,268. 5,257,12
677,472.1 4
7
0
2.4
2011 2,189,135. 424,294. 1,052,74 712,099. 7,065,27
8
8
1.9 1
7.9
2012 2,375,383, 352,99.2 1,244,06 1,096,02 8,049,47
7
1.0 3.5 5.5
2013 2,908,499. 607,891. 1,620,92 679,678. 8,025,71
0
3
9.3 4
5.4
2014 2,861, 620,804. 1,465,46 774,916. 8,596,28
191.0 6
9.7 7
6.4
Diagram 2. The export and import of Georgia (2003-2014 US $)
1,764,26
8.9
1,340,88
7.8
1,470,64
3.3
2,057,19
8.9
2,431,11
1.4
2,270,72
0.9
2,369,18
5.2
1,998,02
8.6
1,298,32
4.1
1,587,61
8.3
1,941,58
9
2,057,94
8.3
2,179,47
1.0
2,127,32
5.8
2,539,242.
8
1,861,032.
2
2,198,860.
8
4,813920.1
3,560,415.
8
3,575,523.
5
4,099,775.
4
Coming out from the fact that Georgia’s domestic capital market is still undeveloped; the longterm
growth of economics and correspondingly, the integration to the European market
significantly depends on the sources of the external financing - on the direct foreign
investments. Taking into consideration only the macro factors, keeping the liberal economic
policy, reducing regulations, taxes and corruption will not be sufficient for reaching the goal
and attract more investments.
By 35 reforms carried out in 2005 Georgia became the first reformer country among the East
European and Central Asian countries and thus, gained the fame in the world. The reforms and
innovation approaches played a huge role in the improvement of the investment environment
and economic recovery. According to the rating 10 , in 2014 Georgia got into the world’s top ten
countries list and won in the following nominations: Property Registration - 1 st place, Use of
Construction Permit - 2 nd place, Use of Credit - 3 rd place, Doing Business - 8 th place. Moreover,
Free Economic Index 2014 (Heritage Foundation) - 22 nd place; the 12 th place in the European
region (form 48 countries); Trade Stimulation Index 2012 (World Economic Forum) - 38 th place
(from 132 countries), particularly: Market Accessibility - 9 th place, Border Administration - 33 rd
place, Transport and Communications - 66 place, Business Environment - 50 th place.
Moreover, for the foreign investors Georgia is especially attractive because of her high rating of
“Investor Protection” criteria. In the given category, Georgia has much more high rating than
many other developed countries like Japan, Norway and Sweden.
Furthermore, the progress which makes Georgia attractive for investments, still there are many
important problems in this direction. Among them: the small number of innovative projects,
finances low accessibility, low level of the appropriate production capabilities and education,
inactive policy in the direction of country’s image branding development. Accordingly, in the
various directions Georgia’s business environment still does not correspond to those
international, free economic and even different rating standards.
10 The World Bank: IFC (2014): Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises.
Washington, DC: World Bank Grou
323