Government plans to improve Armenia’s ranking in Doing Business by 12 points

Government plans to improve Armenia’s ranking in Doing Business by 12 points

The Armenian government intends to improve the country’s ranking in the World Bank’s Doing Business report by 12 points. Armenia is ranked 38th among 190 countries.

In the government’s yearly report, legislative regulations aimed at improving the business environment include the reduction of gas tariff for greenhouse businesses and reprocessing companies. Facilitated procedures of VAT return have been defined: 4 days for up to 20 million VAT amount.

Procedures are being specified to raise efficiency of rough diamond imports from Russia.

SME Investments provided 2,3 billion drams in loans in privileged conditions to 63 businesses in the reporting period.

144 IT startups are benefiting from the tax privilege.

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