ArmInfo. Armenia is intended to reach leading positions in WB Doing Business rating - to get the 26th point versus 38th , improving own position for 12 points. Armenian Government approved the appropriate working schedule developed by Armenian Ministry of Economic Development and Investments.
According to Suren Karayan, the Minister of Economic Development , the Ministry has set a target to provide the prermanent character of reforms aimed at the improvement of Armenian position in WB rating, within the consideration of best global practices. Under the condition of implementation of all the complex arrangements on the improvement of the business-environment in Armenia during the year of 2017, it is expected that through 49 tools aimed at reducing administrative obstacles for business and decrease of corruption risks, Armenia, among other 190 countries, will get higher position in WB rating, taking the 26th place versus current 38th
To remind, Amenia has been ranked the 38th in WB Doing Business 2017 report published overnight. The country has improved its rank by 5. The country performed well in Getting Electricity (improvement by 9 positions) and Getting Credit (by 22 positions), Enforcing Contracts (by 7 positions). Thecountry underperformed on Dealing with Construction Permits (by 3 positions), Protecting Minority Investors (by 2 positions) and Resolving Insolvency (by 3 positions). Generally, Armenia has reduced the Distance to frontier score (1-100) reaching 73.63. Armenia underperformed in Paying Taxes (88) and Construction Permits (81), Trading Across Borders (48).
Comparing to other CIS countries, Armenia is left behind Georgia (16), Kazakhstan (35), Belarus (37), but leaves behind Russia (40), Moldova (44), Azerbaijan (65), Kyrgyzstan (75), and Ukraine (80). A record 137 economies around the world have adopted key reforms that make it easier to start and operate small and medium-sized businesses, says Doing Business 2017: Equal Opportunity for All, the World Bank Group's annual report on the ease of doing business. The new report finds that developing countries carried out more than 75 percent of the 283 reforms in the past year, with Sub-Saharan Africa accounting for over one-quarter of all reforms. In its global country rankings of business efficiency, Doing Business 2017 awarded its coveted top spot to New Zealand, Singapore ranks second, followed by Denmark; Hong Kong SAR, China; Republic of Korea; Norway; United Kingdom; United States; Sweden; and Former Yugoslav Republic of Macedonia.
The world's top 10 improvers, based on reforms undertaken, are Brunei Darussalam; Kazakhstan; Kenya; Belarus; Indonesia; Serbia; Georgia; Pakistan; United Arab Emirates (UAE); and Bahrain.