Armenia drops 6 notches in World Bank’s Doing Business report

Armenia drops 6 notches in World Bank’s Doing Business report

PanARMENIAN.Net - Armenia dropped 6 notches in the World Bank’s Doing Business 2020 survey to stand at 47 among 190 countries.

The country had improved its standing by 6 spots.

The recent Doing Business covers reforms affecting all sets of indicators included in this year’s report, implemented from June 2017 to May 2018.

In particular, the following were named as reforms making it easier to do business in Armenia:

- Armenia strengthened construction quality control by imposing stricter qualification requirements for architects and engineers.

- Armenia strengthened minority investor protections by requiring an independent review and immediate disclosure to the public of related-party transactions, increasing shareholders’ rights and role in major corporate decisions, and clarifying ownership and control structures.

- Armenia made paying taxes easier by extending value added tax cash refunds to cases of capital investment.

- Armenia made exporting faster by allowing the online submission of customs declarations.

Meanwhile, neighboring Georgia and Azerbaijan come in the 7th and 34th, respectively. Russia is placed 28th, the United Iran is on the 127th position, while Turkey is the 33rd.

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