Armenia 5th in the world by " starting business” indicator

Yerevan /Mediamax/. Armenia has improved its ranking by 10 positions, holding 35th position in Doing Business 2016  World Bank’s Regulatory Quality and Efficiency Evaluation Report.

According to the report Armenia has made dealing with construction permits easier. Particularly lower risk projects don’t require approval of the architectural drawings by an independent expert and technical supervision of the construction.

Besides, by joining the Eurasian Economic Union the country has reduced the time and cost for documentary and border compliance for trade with Russia. As a result, the time required for imports is reduced from 50 hours to around 3. The country became 29th as compared to former 58th by this indicator.

Enforcing contracts is now easier through a new law requiring that cases be assigned to judges randomly, and through a fully automated system, in courts throughout the country.

Armenia is among 26 economies at the global level that implemented 3 or more reforms. That’s only 14% of economies worldwide.



Armenia sets some of best practices worldwide in starting a business (the 5th among 189 economies) and 14th in terms of registering property; it takes only 7 days to register a property transfer compared to 48 on average worldwide.

Singapore, New Zealand and Denmark are the top 3 countries in the report.

Georgia is 24th and Azerbaijan is 63rd.