Thursday, June 8 2017 16:44
Naira Badalian

Armenia targeted to get 12 points higher in WB Doing Business rating

Armenia targeted to get 12 points higher in  WB Doing Business rating

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.  

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