The main factor impeding improvement of business environment for both Russia and Armenia is political will, which Georgia proved to have enough, and was able to achieve progress in this field, according to Sergey Grigoryan, Deputy Director of Association of Russian bank analytical department.

During July 20 Yerevan-Moscow TV bridge on Capital outflow; post-Soviet space phenomenon, the Russian expert pointed out existence of bureaucratic delays and availability of financing among other impeding factors.

In turn, Head of Alternative Armenian analytical center, Doctor of Economics, Tatul Manaseryan emphasized importance of maintaining the balance between rights and responsibilities on the way to progress.

“When rights are granted, responsibility must be assumed. Georgia punished those who failed programs,” Manaseryan said. The analyst stressed that high-ranking officials, including ministers and responsible officers must not be dismissed without estimation of their work results.

It should be noted that aimed at improvement of business environment Georgia’s authorities provide tax privileges for business. Georgia is ahead of Armenia and Russia in business registration rate. This allows stimulating development of both large and medium business.

According to Manaseryan, Armenia has just begun to talk about creation of free economic zones. “There are no monopolies in Georgia, oligarchs cannot ‘swallow’ small and medium business,” economist said.