Government-initiated reforms to produce results in 2011-2012

According to Investing Across Borders, 18 days are needed to establish business in Armenia.

Armenian Prime Minister Tigran Sargsyan characterized 2010 as a year of hard work aimed at coping with the aftermath of the global financial and economic crisis.

PanARMENIAN.Net - “Despite the multitude of internal and external challenges, we managed a breakthrough growth in economy. We were able to honor the State’s social commitments in full and extend the scope of infrastructure development-targeted efforts. Tangible progress was stated in information technologies, tourism, investments and export incentives. 2010 also stood out by numerous scientific, cultural and sporting achievements. E-governance and the process of online services for the citizens were raised to a new qualitative level. Notwithstanding the regrettable decline in agriculture, the government managed to implement the seed-breeding development program and launch the phytosanitary reform. It is my firm belief that our efforts will bring about tangible results in 2011-2012. Challenging reforms await us in 2011 that will make us reconsider our behavior. Those reforms will not succeed unless we are blessed with wide public support and collaboration. I am convinced that the way to a better and powerful Armenia of our dream lies across the path of reform. The Season’s holidays symbolize hope and kindness, warmth and care to all of us, and we usher in the New Year with confidence and firm determination to do our utmost for the benefit of the nation,” he said in his New Year address.

Meanwhile, Armenia is still experiencing serious problems, first of all referring to launching business in the republic. According to Investing Across Borders, a new World Bank Group initiative comparing regulation of foreign direct investment around the world, 18 days are needed to establish business in Armenia, unlike Georgia, where the procedure takes 4 days. Besides, Georgia is absolutely open for foreign investments.

To launch business in Turkey, 8 days are needed. In Bulgaria, Greece and Russia it will take 20, 22 and 31 days respectively.

So, let’s hope that the government-initiated reforms will prove efficient and investors will choose Armenia as a reliable country to start a business in.

Victoria Araratyan / PanARMENIAN News
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