Armenian Minister of Economy Tigran Davtyan said the country intends to improve its position in Doing Business ranking by 5 points during the current year.

“This is a minimum level, but we’ll try to do more,” the Minister noted.

“Last year, Armenia took action to improve business environment in the country. However, we were outrun by other regional states. We’ll improve Armenia’s Doing Business ranking by acting more intensively,” Davtyan stressed.

In the past year, governments in 117 economies carried out 216 regulatory reforms aimed at making it easier to start and operate a business, strengthening transparency and property rights, and improving the efficiency of commercial dispute resolution and bankruptcy procedures. This is a finding of Doing Business 2011: Making a Difference for Entrepreneurs, the eighth in a series of annual reports published by IFC and the World Bank. The report ranks 183 economies on key aspects of business regulation for domestic firms.

Armenia dropped 4 points in current ranking, with the country appearing in 48th position.