According to the research of the World Bank and International Corporation (IFC) ,,Doing Business 2019" Georgia is on the 8th place out of 190 countries in the world.
One of the components of the rate of the doing business is calculation of the agreement execution index in the country. Achievement of the high level of executions is significantly linked with the smooth operation of the executive system. The component of the rating calculation by the World Bank is timely, high quality, accessible and transparent execution. It is the function of the National Bureau of Execution as well.
For simplifying of the agreement execution Georgia introduced the random selection and automatic appointment mechanism for the court cases, what was one of the important parts of the judiciary reform third wave developed by the Ministry of Justice of Georgia. Mentioned improved the quality index of the judiciary processes and raised from 12.5 up to 13.0 out of 18 point score.
Georgian Government has started already implementation and still carries on which will improve more the position of Georgia in the ratings of the next years. Large-scale reforms are planned in the directly on of insolvency law. At the same time, the Ministry of Justice of Georgia, with involvement of the National Bureau of Execution, works on new execution code. By the new project, the entire execution system is changing. The Chamber of Executors will monitor the activities of the executor.
Ongoing institutional reforms are the ground for further execution and insolvency process quality improvement and meeting modern European Standards.
The indicator of the insolvency process is successful. Georgia is on the 60th place by the index of the insolvency in the world. The approach and effective work of the National Bureau of Execution are reason for improvement. As a result of service improvement and addition of the services, insolvency process of creditors and debtor was simplified. The rehabilitation opportunities and insolvency service access were improved for a debtor.