Armenia may improve its standing in Doing Business ranking by 20 notches- minister

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Economy

20.02.2014, 15:10

Armenia may improve its standing in the Doing Business ranking by 20 points, economy minister Vahram Avanesyan told a cabinet session today.

Armenia may improve its standing in Doing Business ranking by 20 notches- minister

YEREVAN, February 20. / ARKA /. Armenia may improve its standing in the Doing Business ranking by 20 points, economy minister Vahram Avanesyan told a cabinet session today.

In the latest annual ranking compiled by the World Bank and the International Finance Corporation (IFC), Armenia was in the 37th position, located between Belgium (36th place) and France (38) and ahead of Cyprus, Poland, Spain , Luxembourg and Italy.

The minister said the improvement of the standing by 20 notches will require serious, both human and financial resources.

The cabinet has approved today a plan of actions for 2014 designed to improve the business environment in the country.

The plan includes 41 events, 18 of which are expected to have direct impact on the improvement of the business environment. According to the minister, the implementation of this year’s events will push Armenia up three notches in the ranking.

Prime Minister Tigran Sargsyan gave relevant government agencies four months to develop a schedule of measures to improve the business environment in order to include it in the medium-term expenditure program. -0-

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