LACK OF CREDITS AND SKILLED PERSONNEL MAJOR OBSTACLE TO BUSINESS EXPANSION IN ARMENIA

ARMENPRESS
Oct 10, 2007

YEREVAN, OCTOBER 10, ARMENPRESS: According to a report on international
business activity released by the Grand Thornton International, women
hold senior managerial positions in about 60 percent of Armenian
companies. In 22 percent they are chief managers, while the average
international index is 59 percent.

Gurgen Hakobian, an official of the Grand Thornton International
Office in Armenia, handling the survey in Armenia, said today that in
terms of rapid economic growth of companies, when a company’s economic
growth exceeds five percent, Armenia comes second after the USA. He
said the survey was conducted in 32 countries.

Armenia is followed by Ireland and Great Britain.

The majority of questioned Armenian businessmen named lack of long-term
credits and skilled personnel as the biggest obstacle to expansion
of business.

The survey also found that Armenian businessmen work 56 hours a
week. The average intentional index is 53 hours.