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The programme of improving Armenia’s Business Environment for 2020-2023 was discussed at the government chaired by Deputy Pm Tigran Avinyan on Monday, the Office of the Deputy Pm reported in a press statement.

As Avinyan noted, the reports by international organizations are important for establishing favorable business environment and attracting investments since they will allow to assess the planned and underway reform in the country.

In particular, a reference was made to the World Bank’s Doing Business 2020 report, where Armenia ranked 47th among 190 countries.

It is noted that in 2018-2019 number of reforms were implemented aimed at improving the field of business regulation, among other things simplifying the registration of the property, the tax payment, external trade, and joining the network of energy supply.

As Avinyan stressed, despite the World Bank methodology, reforms of the business environment should be implemented at fast pace to ensure advancement in the ranking list. As noted, the roadmap of Armenia’s business environment for 2019 consisted of 51 actions points 26 of which have been implemented, while 19 are in the phase of implementation.