Page 13 - GEORptSep22

US ranks Georgia as a good place to do business
16% increase in people who believe Georgia should limit economic ties with Russia
amounting to 25.6 index points. Expectations for Q3 2022 fell for all sectors, except for the construction and service sectors.
The Sales Price Expectations Index decreased by 11.6 and settled at 29.8, indicating a decline in the share of businesses anticipating charging more for their products over the upcoming three months. The Sales Price Expectations Index has decreased for all sectors except for the trade sector.
Lack of qualified labour force and limited access to financing are the most significant impediments for large companies. The lack of demand and limited access to funding are indicated as significant constraints by small and medium enterprises (SMEs).
Georgia ranks high in the South Caucasus as a "good place" to invest but it is not without challenges, according to the 2022 Investment Climate Statements released by the United States Department on July 28.
The report noted that overall, business and investment conditions in the country were "sound", and Georgia "favourably" compared to the other countries in the region.
Challenges pointed out were the "increasing lack of confidence in the judiciary" and its efficiency, with "some business dispute cases languishing in the court system for years," the report said. Some investors complained about procedures on the municipal level, as well as shortcomings in enforcing intellectual property rights. Businesses have also complained about political meddling, selective enforcement of laws/regulations," the report noted.
The number of people in Georgia who believe the country should limit its economic ties with Russia has increased by 16%, a survey published by the National Democratic Institute shows.
The NDI poll also revealed the European Union, the United States and Turkey were the top three most desired economic partners for the majority of Georgians following the Russian invasion of Ukraine.
The number of people believing the EU will improve the Georgian economy has increased to 62 percent following Russia's launch of its invasion of Ukraine in February, the same survey indicates.
The poll also shows ruling party supporters and senior citizens being “more likely to approve not joining economic sanctions against Russia", NDI said. The findings also reveal 81 percent of people believe the ongoing hostilities in Ukraine will negatively affect the economic well-being of their families, while 80 percent expect an economic decline in the country.
The survey was carried out by the NDI and the Georgian office of the Caucasus Research Resource Centers with a total of 4,060 interviews conducted between February and March.
13 GEORGIA Country Report September 2022 www.intellinews.com