YEREVAN. - The Armenia Government approved new measures against unfair competition during state procurements at the session held Thursday. 

Introducing the draft order, Finance Minister of Armenia, Vardan Aramyan, noted that related persons won’t be able to separately take part in one and the same tender. According to him, there have been such cases, which created false competition. “This is exactly what we want to limit,” the minister said.

Apart from this, new rules on financial guarantees of tender participants were adopted. In case of tenders exceeding 70 million AMD ($144,000), the participants will have to submit bank guarantees, while in case of less than 70 million AMD procurements, the type of guarantee—bank deposit or cash amount—will be determined by a specific business.