Armenia in 92nd place in economic competitivenessSeptember 7, 2011 - 13:31 AMT PanARMENIAN.Net - According to the Geneva-based World Economic Forum's annual ranking, Armenia climbed 6 places to become 92nd among 142 countries. As Economy and Values research center chairman Manuk Hergnyan told journalists in Yerevan, the report points out to the unsettled problems in business environment and imperfect customs procedures. Armenia is still behind Georgia, Russia, Azerbaijan, Kazakhstan and Ukraine but comes ahead of Moldova, Tajikistan and Kyrgyzstan. The U.S. slipped further among competitive economies, taking 5th place due to huge deficits and pessimism about government. Switzerland retained the top spot, being followed by Singapore, Sweden and Finland. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |