ARMENIA IN THE LIST OF 20 BEST COUNTRIES

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[08:13 pm] 03 October, 2006

World Bank and International Financial Cooperation made a report
on the Armenian business sphere. Today the report "Business – 2007"
was presented to the RA Prime Minister.

Simon Diankov, head of the working group, noted that on the whole
there are favorable conditions for the Armenian business enlargement
due to the results of the recent reforms realized in different spheres
of the country. In his words, the fact that Armenia occupies the 34th
place in the list of 175 countries by its index already testifies to
his predictions.

Armenia is also included in the list of 15 countries which successfully
implemented all the reforms within the past two years. According to
the report, property registration, contract signing and leasing have
become easier. There is also great progress in license granting.

The report didn’t neglect the spheres where, despite the realized
reforms, there is still much work to be done. The authors of the
report claim that their report is aimed at enhancing business sphere,
rising public level, as well as at opening new working places. They
underline that at present Armenia is likely to appear in the list of
20 best countries of the world by the index of the reforms. They also
added that the World Bank and the International Financial Cooperation
are ready to render assistance to Armenia in this respect.

Prime Minister Andranik Margaryan focused on the issue of presenting
the reforms anticipated in different spheres next year to businessmen
and public more comprehensibly as it will give a chance to have a
complete picture of reforms.