Armenia is carrying out reforms in tax and customs areas to increase the efficiency of its business environment.

Deputy Prime Minister and Minister of International Economic Integration and Reforms of Armenia, Vache Gabrielyan, said the aforementioned at Armenia Investment Forum convened in New York City, presenting the possibilities and privileges of engaging in business activity in the country.   

Gabrielyan particularly noted that Armenia is distinguished for its high level business environment liberalization, coming 35th among 189 countries according to the index of ease of doing business. It also ranks 5th according to the openness of business.   

Apart from this, Gabrielyan touched on the geographical location of Armenia, its peculiarities and the country’s system of governance. He also presented information on the entry visas, available transport, as well as communication and energy infrastructures.

Responding to the question as to why to do business exactly in Armenia, the Deputy Prime Minister mentioned several reasons to invest in the country’s economy.  In this context, he paid special attention to the preferences provided to Armenia thanks to its membership to EAEU, GSP+ and GSP trade regimes with EU and U.S. respectively, as well as the cooperation with Georgia and Iran.

Vache Gabrielyan stressed that the new Tax Code recently adopted by the Armenian parliament provides privileges for investors and businessmen.