IFC helps Armenia launch one-stop-shop to ease business entry and spur economy
28.03.2011,
16:11
IFC, a member of the World Bank Group, said in a press release it helped the Armenian government launch the first One Stop Shop for business registration, which will ease business entry, reduce administrative burden on businesses, and boost economic growt
YEREVAN, March 28, /ARKA/. IFC, a member of the World Bank Group, said in a press release it helped the Armenian government launch the first One Stop Shop for business registration, which will ease business entry, reduce administrative burden on businesses, and boost economic growth.
"With advice from the IFC, the Armenian government amended the legislation that streamlines procedures for registration of legal entities and individual entrepreneurs. The One Stop Shop, launched within the Ministry of Justice on March 10, will streamline start-up procedures for new businesses, reducing the business registration process by approximately two weeks," IFC said.
“The Government of Armenia highly values IFC’s contribution to the process of creating a stronger business entry legislative framework and strengthening investor promotion and protection in the country,” said Karine Minasyan, Deputy Minister of Economy of Armenia. “The Doing Business reform team of the Ministry of Economy, in cooperation with the Ministry of Justice and IFC’s team, put every effort to promote the One Stop Shop system, which is very important to promote economic growth in Armenia.”
“New simplified business start-up procedures and improved customer service will enable Armenian businesses to save significant time and resources,” said Arsen Nazaryan, IFC Armenia Regulatory Simplification – Doing Business Reform Project Manager.
The IFC Armenia Regulatory Simplification – Doing Business Reform Project supports small and medium-sized businesses by providing advice to the Armenian Government on improving the investment climate. IFC is implementing the project in partnership with the Austrian Ministry of Finance, Netherlands Ministry for Development Cooperation, Luxemburg Ministry of Finance, and the Consortium of Commercial Promotion of Catalonia.
Since Armenia became a member of IFC in 1995, IFC has invested $110 million in 24 projects across the industry spectrum including financial markets, general manufacturing, energy, mining and chemicals. IFC Advisory Services provide advice through projects focusing on the financial sector, sustainable energy, and regulatory simplification. -0-
"With advice from the IFC, the Armenian government amended the legislation that streamlines procedures for registration of legal entities and individual entrepreneurs. The One Stop Shop, launched within the Ministry of Justice on March 10, will streamline start-up procedures for new businesses, reducing the business registration process by approximately two weeks," IFC said.
“The Government of Armenia highly values IFC’s contribution to the process of creating a stronger business entry legislative framework and strengthening investor promotion and protection in the country,” said Karine Minasyan, Deputy Minister of Economy of Armenia. “The Doing Business reform team of the Ministry of Economy, in cooperation with the Ministry of Justice and IFC’s team, put every effort to promote the One Stop Shop system, which is very important to promote economic growth in Armenia.”
“New simplified business start-up procedures and improved customer service will enable Armenian businesses to save significant time and resources,” said Arsen Nazaryan, IFC Armenia Regulatory Simplification – Doing Business Reform Project Manager.
The IFC Armenia Regulatory Simplification – Doing Business Reform Project supports small and medium-sized businesses by providing advice to the Armenian Government on improving the investment climate. IFC is implementing the project in partnership with the Austrian Ministry of Finance, Netherlands Ministry for Development Cooperation, Luxemburg Ministry of Finance, and the Consortium of Commercial Promotion of Catalonia.
Since Armenia became a member of IFC in 1995, IFC has invested $110 million in 24 projects across the industry spectrum including financial markets, general manufacturing, energy, mining and chemicals. IFC Advisory Services provide advice through projects focusing on the financial sector, sustainable energy, and regulatory simplification. -0-
