YEREVAN. – The Regulatory Guillotine initiative will help Armenia’s businesses save US$40 million in the work processes.

Head of the National Centre for Legislative Regulation state-run organization, Armen Yeghiazaryan, said the aforementioned at Thursday’s Cabinet session.

As a result of reviewing the legislative acts regarding businesses in Armenia, it became possible to reduce the time spending of the country’s businesses. 

“If we review all the necessary legal acts and take all decisions necessary for business, the spending of the businessmen will reduce by approximately $40 million,” noted Yeghiazaryan.  

The abovementioned center simplifies Armenia’s legal framework for businesses, and along the lines of the Regulatory Guillotine project which is implemented with the support of foreign donors, and co-funding by the Government of Armenia.