Armenia ranks the 77th among 125 economies of the world in terms of attractiveness for the private equity industry, a new report says.

The Venture Capital and Private Equity Attractiveness Index 2018 (developed by IESE Business School and EMLYON Business School ) ranks 125 countries by several criteria measuring their investment and business environment and attractiveness to the PE industry.

According to the index, Armenia lags behind neighboring Georgia which is nestled in the 61st spot, at the same time outstripping Azerbaijan (100th position).

The United States, the United Kingdom and Canada top the rankings, while Russia is placed 39th.