Page 8 - bne IntelliNews Georgia country report November 2017

half of the votes. The run-off races are to be held no later than 25 days after the date of the first round of elections, or November 15 this year.
2.2 Georgia top CEE/CIS performer in World Bank’s Doing Business 2018 ranking
Georgia is the only lower-middle-income country to rank among the top 10 countries in the world for ease of doing business, according to the World Bank's Doing Business 2018 report published on October 31.
The small country in the South Caucasus is also the one to have implemented the greatest number of business regulation reforms among the top 20 ranked since 2003 - some 47 reforms in total. Georgia thus ranks higher than much wealthier economies, like Sweden, Finland, Canada, France or Australia, and improved its ranking by seven positions compared to the 2017 index.
Some notable improvements Georgia made in the last year include making electricity more affordable by reducing connection costs for new customers, expanding shareholders' roles in company management, improving the process of reorganising insolvent companies and strengthening creditors' rights. As in past years, Georgia ranks as the best country in the world for ease of registering property in this year's index.
Meanwhile, neighbours Armenia and Azerbaijan ranked lower - 47th and 57th respectively - in the index. Compared to 2017, Armenia dropped nine positions in the index, while Azerbaijan improved its standing by eight.
Armenia's poorer performance took place despite the fact that it streamlined the procedures necessary to obtain electricity and its land dispute resolution mechanism, partly because of the country's poor ranking for dealing with construction permits. Thus, obtaining a construction permit in Armenia takes on average 98 days.
Meanwhile, Azerbaijan's improved ranking is due to progress made in facilitating access to credit, protecting minority investors, resolving insolvency and enforcing contracts. However, the country ranks as one of the worst in the world for dealing with construction permits - 161st out of 190 nations. Obtaining such a permit can take up to 242 days. Having electricity installed is also a lengthy process that takes an average 69 days.
2.3 Georgian president vetoes new constitution draft but move likely only symbolic
Georgian President Giorgi Margvelashvili has used his veto power to oppose a c ontroversial new draft of the constitution that will bring about changes in how the president and MPs are elected in the country, Reuters reported on October 9.
Margvelashvili's veto is symbolic, because the ruling Georgian Dream party has an absolute majority in parliament and can - and is likely to - overturn it. Georgia needs a new constitution to replace outdated laws, and set out to devise one earlier this year. After a landslide victory at the polls in October
8 GEORGIA Country Report November 2017 www.intellinews.com