MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

As 4th round of the "SME Policy Index - 2024" assessment of the Organization for Economic Cooperation and Development (OECD) shoes, Georgia is still the leader in 11 out of 12 areas of the ranking and at the first position among the Eastern Partnership countries. 

The presentation of the study was held on December 13 in the French city of Paris as part of the OECD Eurasia Week, which was attended by the Georgian delegation led by the Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili. The Head of the Economic Policy Department of the Ministry, Cisnami Sabadze, as the national coordinator of the mentioned OECD assessment from the Georgian side, and Mikheil Khidureli, the Director of the LEPL Enterprise Georgia Agency also participate in the events held within the week.

The Organization for Economic Co-operation and Development's Small and Medium Enterprise Policy Index 2024 study, now in its fourth edition, rates the Eastern Partnership (EaP) countries for policies supporting small and medium enterprises with the Small Business Act for Europe and the best In terms of compliance with international practice.

OECD evaluates the "SME Policy Index" every 4 years, and the study evaluates countries according to 5 important areas, such as: responsible government; entrepreneurial human capital; access to finance; market access; innovation and business promotion.

Each criteria, in turn, includes 12 directions, of which Georgia leads in 11 directions. In the 2024 review, Georgia was the best in the following areas: institutional and regulatory framework; operating environment; insolvency and second chances; entrepreneurial training and women's entrepreneurship; small and medium entrepreneurship skills; access to finance; State procurement; standards and technical regulations; Internationalization of small and medium entrepreneurship; business promotion services; innovative policy.

"Georgia was named the absolute leader among the Eastern Partnership countries in the small and medium business policy evaluation section. I think this is another European proof that the economic policy and economic reforms implemented by our state are consistent, effective and inclusive, aimed at improving the entrepreneurial and investment environment in the country," – Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili noted.

In the OECD assessment "Small and Medium Enterprise Policy Index - 2024" it is noted that "with the rapid economic recovery post COVID, Georgia's high standard regulatory and business environment is globally recognized. Small and medium-sized enterprises of Georgia benefit from easy registration of preferential tax regime, expansion of e-government services, simplified access to finance and more systematic use of RIA".