YEREVAN, May 15. /ARKA/. Businesses in Armenia quite profitable, Arsen Ghazaryan, chairman of the Union of Manufacturers and Employers of Armenia, said Thursday commenting on some businessmen’s statements that it is not beneficial to run business in the country.
He said he is optimistic about Armenia’s economic future, since he knows entrepreneurs, who are able to be competitive, to make investments and to develop the economy in any environment.
“Our economy is not among the weakest economies in the region, despite our opponents’ statements,” he said.
Armenia was ranked 37th in the World Bank and the International Finance Corporation’s Doing Business – 2014 report.
Armenia outdid other CIS countries - Kazakhstan came 50th in this ranking, Belarus 63rd, Kyrgyzstan 68th, Azerbaijan 70th, Moldova 78th, Russia 92nd, Ukraine 112th, Tajikistan 143rd and Uzbekistan 146th.
Among former Soviet republics, only Georgia, Lithuania, Estonia and Latvia won high ranks here – 8th, 17th, 22nd and 24th respectively. --0---