The American Chamber of Commerce in Armenia, an affiliate of the U.S. Chamber of Commerce, welcomes Armenia’s progress in the annual Doing Business – 2013 report of the International Finance Corporation and the World Bank.

Armenia has moved 18 places up in the report and now occupies 32nd position in the list of 184 countries.

It is encouraging that Armenia has improved its indicators for a number of categories, including Protecting Investors (from the 98th to the 25th), Paying Taxes (from 152nd to 108th), Getting Electricity (from 143rd to 101st), Dealing with Construction Permits (from the 49th to 46th), the Chamber said in a statement.

“The fact that Armenia encountered significant progress in the reputable Doing Business report proves that the country’s government is on the right path of improving the business and investment climate in the country. However, many issues still remain unresolved, and there is a need of radical changes in a number of areas, such as fighting corruption, securing fair tax administration, protecting competition, enforcing contracts, etc. We encourage Armenian government to continue the reforms aimed at improvement of the business environment in Armenia and pledge our full support to the efforts,” it said.