Azernews.Az

By Nazrin Gadimova

The World Bank (WB) and the International Finance Corporation (IFC) ranked Georgia 8th in the Doing Business 2014 rating.

The rating reflects the evaluation of the acceptability of business climate, the report published by the organizations on October 29 said.

According to the WB representative office in Georgia, Georgia' ranking rose by one compared to last year, putting it ahead of such countries as Singapore, Hong Kong, New Zealand, the U.S., Denmark, Malaysia and South Korea.

Georgia still holds the leading position on the indicator of "the simplicity of registering property", while holding the second position on the indicator of "obtaining building permits".

The WB representative office in Georgia reported that on the indicator of "getting credit" the country has ranked the 3rd, on the indicator of "investor protection" it has ranked 16th, on the indicator of "tax payment" it has ranked 29th, on the indicator of "international trade" it has ranked 43^rd, and on the indicator of "accomplishing of contracts" it has ranked 33rd.

Rating is compiled annually by the World Bank and the International Finance Corporation.

Last year, the Doing Business 2013 report covered 185 economies around the world. Four countries - San Marino, Myanmar, South Sudan and Libya - were added to the list this year.