Serious reforms are necessary to make starting business easier: Deputy Minister of Economy

Armenia will launch a pretentious program of reforms next year to make starting business easier. Currently our country reached certain level, where serious reforms are necessary. The Deputy Minister of Economy of the Republic of Armenia Karine Minasyan stated this while introducing Doing Business-2014: Understanding Regulations for Small and Medium-Size Enterprises ranking report. Armenia has improved its positions for three points, which shows the efficiency of the conducted work.

Armenia’s business environment is considered to be the best in CIS and the second in the region after Georgia. Armenia occupies the 37th position in the report, thus surpassing France and standing right behind Belgium.

Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises assesses regulations affecting domestic firms in 189 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders. This year’s report data cover regulations measured from June 2012 through May 2013. The report is the 11th edition of the Doing Business series.

The Doing Business Project provides objective measures of business regulations and their enforcement across 189 economies and selected cities at the subnational and regional level.

The Doing Business Project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle.

By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time, Doing Business encourages countries to compete towards more efficient regulation; offers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business climate of each country.

In addition, Doing Business offers detailed subnational reports, which exhaustively cover business regulation and reform in different cities and regions within a nation. These reports provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. Selected cities can compare their business regulations with other cities in the country or region and with the 189 economies that Doing Business has ranked.

The first Doing Business report, published in 2003, covered 5 indicator sets and 133 economies. This year’s report covers 11 indicator sets and 189 economies. The project has benefited from feedback from governments, academics, practitioners and reviewers. The initial goal remains: to provide an objective basis for understanding and improving the regulatory environment for business around the world.

source: armenpress.am