Armenia begins new stage of substantive reforms to improve its ranking in Doing Business Index

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YEREVAN, March 16. /ARKA/. Armenian Deputy Prime Minister Tigran Avinyan chaired today a meeting that looked into what could be done to improve the country’s position in the World Bank’s Doing Business Index.

Currently Armenia is ranked 41st among 190 countries, having improved its place by six points from the previous ranking for 2018.

Avinyan said that improving the business environment is a priority of the government. According to him, the government will be strictly consistent in the implementation of the necessary measures.

The meeting discussed also ways to simplify the process of obtaining building permits, connecting to power grid, registering property, obtaining loans, protecting small shareholders, paying taxes. It also discussed foreign trade, execution of contracts and recognition of bankruptcies, as well as other business related procedures.

Through the implementation of these measures, the government intends to reduce the administrative burden, eliminate barriers to doing business, simplify tax and customs policies, and define a predictable environment for foreign trade.

Avinyan said various platforms will be used to bring the outcome of the measures to the business community. He also announced the start of a new stage of substantive reforms, saying each participant in this process must realize their share of responsibility.

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