ArmInfo.Armenia intends to improve its position in the rating of Doing Business. The draft amendments to the Civil Code, the Code of Administrative Offenses, the Tax Code and the Law on Combating Money Laundering and the Financing of Terrorism were approved at a meeting of the Armenian government on June 8.
Presenting the draft amendments, RA Minister of Justice Artak Zeynalyan noted that the purpose of the amendments is to exclude the requirement to get a seal when registering a business. The Minister said that at present the registration of the business takes 2 working days, and this period is conditioned by the availability in the laws of the requirement for mandatory printing. Now this requirement is excluded, which will enable entrepreneurs to register their business within 15 minutes.
To recall, Armenia deteriorated its position in Doing Business rankings - 2018, which reflects the simplicity of doing business in countries. The country dropped by 9 positions and is located on the 47th place among the 190 countries included in the study. In Armenia, the process of obtaining electricity has been simplified, and property registration has been simplified by improving dispute settlement mechanisms in the land use system. At the same time, out of 11 calculated components of the indicator of ease of doing business, Armenia improved the indicator of "starting a business" by 0.59 points (15th place), "building permission" - by 0.02 points (89th place), "connection to power networks" - by 5.36 points (66th place), "real estate registration" - 0.42 points (13th place), "bankruptcy recognition" - by 0.08 points (97th place). Armenia ranked between Italy (46th place) and Hungary (48th place). The republic occupies the penultimate place among the EEA countries: Russia is 35th, Kazakhstan - 36, Belarus - 38, and Kyrgyzstan - 77th. The Doing Business project, which began in 2002, focuses on the activities of national small and medium-sized enterprises and the assessment of regulations that regulate their activities throughout the life cycle.