YEREVAN. – Armenia improved its position by three points in the Global Competitiveness Report. But it is very important for the country as to with which standards we were able to improve competitiveness and with which standards have our positions weakened.   

Prime Minister Tigran Sargsyan stated the aforementioned during Thursday’s Cabinet meeting.  

“Our first advantage, which is in line with our high standing in [the] Doing Business [report], is the number of necessary processes for starting a new business; we are 10th in the world with this indicator. [We are] 12th in the practice in employment and resignation, 24th in the transparency of the public policy-making process, 25th in the potency of investor protection, and 34th in the responsibility of state governance. These are our relative advantages,” Sargsyan said.               

As for Armenia’s shortcomings, they are as follows: 120th in the quality of management schools, 121st in the capacity to safeguard talents, 123rd in the responsibility of customs procedures, 127th in the foreign market size index, and 139th in export share in the gross domestic product (GDP). 

Tigran Sargsyan commissioned all department heads to study the Global Competitiveness Report concerning their respective domains and to prepare proposals.