ARMENIA CIS LEADER BY ECONOMIC FREEDOM INDEX

Noyan Tapan
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN. Armenia ranks 27th (being considered
as a “mostly free” country) in the table of the 2006 annual rating
of economic freedom of the Heritage Foundation and the Wall Street
Journal. Vahagn Movsisian, Director General of the Armenian Development
Agency (ADA), stated this at the March 11 press conference. According
to him, the rating showed that Armenia is the CIS leader by the
economic freedom index. It shares 27th place with Japan and Bahamas,
while Georgia is in 68th place, Azerbaijan – 123rd, Turkey – 85th,
Iran – 157th, Ukraine -99th and Russia is in 122nd place out of 161
countries. V. Movsisian said that during the Business Assistance
Council (BAC) sitting (Armenian Prime Minister is BAC Chairman, the
ADA Director General – BAC Secretary), the new database on business
corruption risks, including the conclusions of the research conducted
by the international organization FEAS, will be examined. A working
group composed of 50 businessmen was set up at the BAC for the purpose
of creating the database. He reminded that such a database was created
in 2001 after the foundation of the BAC. Later, corruption risk-related
issues were discussed at 24 sittings of the BAC. According to ADA
Director General, the gradual solution of these issues has contributed
to the fact that Armenia is 27th by the economic freedom index (44th
in 2005), and the investment climate has significantly improved in
the country.