Despite the regression in Doing Business rating - 2018, Karen Karapetyan is confident that the business environment and the investment climate in Armenia have improved

ArmInfo. To the ratings of  some international financial organizations it is necessary to show a  rational approach. Prime Minister of Armenia Karen Karapetyan stated  at the press conference, commenting on the fact that in the World  Bank's Doing Business ranking - 2018 Armenia retreated by 9 points.  "Despite the fact that we have surrendered our positions, in this  rating we are located next to Belgium, so we need to take a rational  approach to such ratings," the prime minister said. At the same time  he pointed to the weaknesses of Armenia, which led to the reduction  of the republic's positions in this rating - the judicial system, the  process of bankruptcy and bank lending. "As for the sphere of bank  lending, we are already taking concrete steps to remedy the  situation," he said.

The prime minister expressed confidence that the investment climate  and business environment in the republic improved: "I'm just  confident in this and this is so."

Earlier, at the meeting of the government, the prime minister said  that the report shows that the republic, despite the improvement of  five indicators from 11, nevertheless, by 9 points deteriorated its  rating. At the same time, as the prime minister noted, in other  ratings Armenia's progress is obvious. In particular, in the index of  global competitiveness of the World Economic Forum, Armenia moved  from the 79th place to the 73rd, and in the index of economic  freedom, calculated annually by the Wall Street Journal and the  Heritage Foundation research center, the republic rose from the 54th  place to the 33rd. Nevertheless, as Karen Karapetyan stated, the WB  report testifies that from now on the issue of improving Armenia's  positions in the Doing Business rating should become the issue of  each responsible person. The prime minister recalled that earlier  they had been given orders that were aimed at resolving precisely  those positions in which the judicial and legal system was declining,  administration when granting permits, etc. A package of legislative  initiatives to address these problems has already been submitted to  the National Assembly. The Prime Minister instructed the Minister of  Economic Development and Reforms to submit proposals to the  Government to organize reforms in this direction, and to carry out  constant monitoring of the progress of their implementation. In  addition, it was entrusted to submit a proposal on the creation of an  interdepartmental working group headed by the Deputy Minister of  Economic Development and Investments, which will coordinate this  work. The head of the Center for Strategic Studies was instructed to  form the necessary expert group in order to provide each state  structure with the necessary methodological assistance.