Armenia climbed 6 points in the global Doing Business2019 report

ArmInfo. Among the 190 countries covered in the World Bank (WB) Doing Business ranking - 2019, Armenia rose from 47th place to 41st, improving its position by  6 levels. The head of the WB Yerevan office Sylvie Bosutro said this  at a press conference on October 31. "I am glad that I can speak  globally about the good results recorded by Armenia, in the Doing  Business 2019 rating," she said.

So, according to S. Bosutro, a positive result was registered in  particular due to the improved position on the rating indicator Doing  Business . "Armenia has simplified the  process of creating enterprises, providing an opportunity for legal  entities to register voluntarily to register as VAT payers during  registration," she explained. Due to this, the registration process  will take 3 and a half days instead of 4 and a half days. Armenia  occupies the 8th position on this indicator.

The head of the Yerevan office of WB noted that positive results were  recorded on the indicator ,  occupying the 17th position. As a result, the process of connecting  to the network, which takes 72 days, instead of 127, is simplified.   According to the indicator "Protection of minority shareholders",  Armenia improved its results by taking 51 positions, adjusting the  ownership structure and oversight mechanisms and demanding higher  corporate transparency. , said S.  Bosto.  And the last fifth indicator, which helped improve the  country's position in the Doing Business ranking, concerns execution  of contracts, according to which Armenia took the 24th place.  "However, there are indicators where Armenia occupies positions in  need of improvement," the head of the WB office stressed. In  particular, in this context, she named the indicator "Obtaining a  building permit", in which Armenia occupies the 98th position, on the  terms of access to loans, the country took the 44th position and  "Insolvency Resolution (bankruptcy procedure)> 95th position.

Note that the Group of World Bank analysts (World Bank) annually in  190 countries around the world conducts research on favorable  business conditions. The analysis is performed on 10 indicators. The  analysis is presented in a report, which is usually published in the  fall in the oldest English-language economic scientific journal The  Quarterlu Journal of Economics> (QJE has been published since 1886).   The analysis is made on the basis of a comparison of the opinions of  the World Bank entrepreneurs' experts participating in the survey  with the actual reforms undertaken by the governments of the  countries. Such an objective analysis allows to determine the degree  of competitive advantages and investment attractiveness of the  economy of a country. In addition to the analysis, the studies  indicate the reasons hindering the development of entrepreneurship,  recommendations for overcoming them, and ways to further develop the  business climate. For governments of different countries, this means  the need to revise the regulations governing the activities of small  and medium-sized businesses, and their enforcement procedure.  The  country index is an average of 10 indicators, each of which has equal  weight.  The rating, compiled by the World Bank, is  an objective external assessment of reforms adopted to improve the  business climate of the country and is compiled using 10 indicators:  in particular, , ,  , ,  , , ,  and . The number of countries participating in the assessment is constantly increasing. All   data is annually updated and published in the report and on the  website www.doingbusiness.org

Recall that Armenia has worsened its position in the ranking of Doing  Business -  2018. Last year, the country dropped by 9 positions and  ranked 47th.