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Doing business in Armenia. Ranking by UN and World Bank.

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 PostPosted: Tue Sep 20, 2005 7:03 am    Post subject: Doing business in Armenia. Ranking by UN and World Bank. Reply with quote Back to top


Armenia continues to lead its region in economic reform and social progress, according to reports by the United Nations and the World Bank. Despite built-in geographic constraints and modest natural resources, as well as blockades by Turkey and Azerbaijan, Armenia has also registered five straight years of double-digit growth. The government estimated an almost 12 percent increase in the Gross Domestic Product (GDP) in the seven months of 2005. Foreign investments have also grown by 12 percent to $140 million for the first half of the year.

According to the United Nations' "Human Development Index," which measures life expectancy, education level and average income, Armenia ranked 83rd out of 177 nations. Armenia's immediate neighbors, Turkey, Iran, Georgia and Azerbaijan, ranked 94th, 99th, 100th and 101st, respectively. Armenia's Foreign Minister Vartan Oskanian called the annual ranking a "report card" and welcomed the fact that it noted progress in Armenia, which "is doing better than [many] expected." He stressed, however, that the government was not satisfied with the social and economic status quo, pledging further democratic reforms and alleviation of poverty.

The "Doing Business 2006" report prepared by the World Bank's International Finance Corporation (IFC) put Armenia 46th in the ranking of 155 countries in terms of "ease of doing business." The IFC ranked Russia - 79th, Turkey - 93rd, Azerbaijan - 98th, Georgia - 100th, and Iran - 108th. The same report ranked Armenia 9th in the world for the ease of registering property and 41st for starting a business. The annual "Economic Freedom Index," jointly prepared by the Wall Street Journal and the Washington-based Heritage Foundation, also ranked Armenia repeatedly ahead of its region, most recently as 42nd of 161 countries surveyed. (Sources: Armenia This Week 1-10; Arminfo 8-19; RFE/RL Armenia Report 9-8, 13; The Armenian Foreign Ministry Press Release 9-9; The World Bank's http://www.doingbusiness.org 9-15)
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