Deputy Prime Minister of Armenia Tigran Avinyan today chaired a discussion on the 2020-23 Plan for Improvement of the Business Climate in Armenia, as reported the news service of the Government of Armenia.

Avinyan stated that the evaluations in internationally reputable reports are important for Armenia to create a favorable business climate and become an attractive country in terms of engagement of investments and particularly touched upon the World Bank’s Doing Business 2020 Report in which Armenia is ranked 47th out of 190 countries.

Between 2018 and 2019, Armenia has carried out several reforms and has improved the regulation of business. Based on the conclusions in the Doing Business Report, over the past years, Armenia has implemented significant reforms in the areas of ownership registration, payment of taxes, foreign trade and connection to the network of energy supply.

The 2019 Action Plan for improvement of the business climate in Armenia was composed of 51 actions, 26 of which are completed, 6 haven’t been launched and 19 are in the stage of implementation. Tigran Avinyan stated that the government agencies need to be more careful and consistent during implementation of the actions and that those who are slow and don’t perform the tasks for non-objective reasons must be subject to liability.