Doing Business 2012: Armenia rose 6 places in the global ranking

 The World Bank has released “Doing Business 2012” report investigating the regulations that enhance business activity. Armenia has improved its positions – Armenia occupies the 55th horizontal among 183 countries Armenia, while the country used to be the 61st.

According to the report Armenia’s economies has improved 5 areas measured by Doing Business in 2010/11. Thus Armenia has improved the following areas - starting a business, dealing with construction permits, getting credit, paying taxes and resolving insolvency. According to this indicators Armenia, among 183 countries, is the first country to have held so many reforms.

The report says Singapore offers the best atmosphere to do business. As in previous year, Singapore leads the ranking table; Chinese Hong Kong follows him defending its positions. New Zealand, USA and Denmark come the 3rd-5th. Norway used to be the 7th last year, while has improved positions and gets the 6th this year.

Doing Business top ten includes South Korea (8) and Island (9). Sweden and Saudi Arabia have yielded their positions in terms of doing business atmosphere. Doing Business 2012 ranks Guinea, Eritrea, the Republic of Congo, the Republic of Central Africa and Chad worst countries in this subject.

DB2012 ranking table for some countries

Find the original table here.

Armenia made starting a business easier by establishing a one-stop shop that merged the procedures for name reservation, business registration and obtaining a tax identification number and by allowing for online company registration.

Dealing with construction permits Armenia made dealing with construction permits easier by eliminating the requirement to obtain an environmental impact assessment for small projects.

Getting credit Armenia improved its credit information system by introducing a requirement to collect and distribute information from utility companies.

Paying taxes Armenia made tax compliance easier for firms by reducing the number of payments for social security contributions and corporate income, property and land taxes and by introducing mandatory electronic filing and payment for major taxes.

Resolving insolvency Armenia amended its bankruptcy law to clarify procedures for appointing insolvency administrators, reduce the processing time for bankruptcy proceedings and regulate asset sales by auction.

DB 2011/2012 ranking table for Armenia