Institute of business-ombudsman to be launched in 2018 according to new governmental program

ArmInfo. The new government of Armenia in its 2016-2018 program pays special attention to stimulating and protection of investments for ensuring sustainable economic growth.  The program approved by the government on October 18 envisages optimization of state bodies or structures with state participation and increasing their efficiency. It is planned to create investment fund in 2017 aimed at financial supporting of investment programs, the fund will ensure partnership between the state and private sector. Besides, the program envisages measures taking of which will upgrade Armenia's positions at least by 4 points in Global Competitiveness Index of World Economic Forum and in Doing Business ranking of the World Bank.

Its is also planned to introduce mechanisms to resume operation of non-performing assets put in pledge in financial institutes. The program also envisages increasing the role of diplomatic missions in attracting foreign investments. The foreigners, whose investments exceed certain amount ,may be given Armenian citizenship. Related to alienation of poor-selling state property more flexible approach will be applied in privatization paying special attention to increasing investment and social responsibility.

Legislative amendments will be made in the issue of responsibility for simultaneous participation in state procurements  of related parties in order to avoid conflict of interests.

The state program also envisages to ensure within a month transparency in conducting procurements, to reduce the number of delegations and implement partially centralized system. It is envisaged to gradually pass to e-platform of state purchases instead of documented contracts.  For development of e-governance the government plans to form specialized body in 2017, which will systematize the policy of development of information technologies and telecommunications sector.  Till the end of 2016 proposal will be presented on setting preferential tariffs on natural gas used by greenhouses, agricultural products processing plants etc. At the same time the gas suppliers will be encouraged to apply special approach to consumer enterprises for example to offer lower tariffs if gas consumption exceeds certain threshold. In 2017 the procedure of providing licenses will be facilitated, inspective approaches  will be changed, particularly preventive mechanisms will be used instead of punitive sanctions in at least 6 sectors.

Mechanisms will be introduced in 2017 to assist forming and strengthening  specialized export structures (including enterprises). Starting from 2017 it is envisaged to gradually reduce the terms of VAT recovery and ensure transparency of the processes. It is also planned to improve mechanisms of export insurance, introduction of new instruments aimed at reducing foreign currency risks. The role of diplomatic missions in the issue of export of Armenian products will be increased.

The governmental program also envisages creating institute of business-ombudsman in 2018.  It is also planned to create favorable conditions for operation of private investment funds in Armenia.