World Bank Official Say Armenia Is Most Open Country in CIS

YEREVAN (Noyan Tapan)–Together with the World Bank task force–the government of Armenia conducted a number of studies in 2000-2001 within the framework of the "Armenia: Studies of Expenditures on Regulation and Administration" program. The goal of the program is to evaluate the influence of the political reforms conducted by the Armenian Government on the country’s economy.

The influence of state regulations–requiremen’s–and institutional adjustment on private companies were also evaluated.

According to the Minister of Industry and Trade–Karen Chshmaritian–leaders of 200 enterprises working in various industries were interviewed for the study. The results showed that as compared to 2000 fiscal year–a 20-30 percent improvement was reported in all government run industries and in all spheres related to business in 2001.

World Bank Yerevan Office Director Owaise Saadat said that the results of the studies testified to progress–namely a lower level of inflation and a broader field for competition. According to him–the studies also prove that Armenia is the most liberal country with the most open economy among the CIS countries.

At the same time–the World Bank representative noted that Armenia’still needs to make many reforms in the business environment.

According to the Government’s Information & Public Relations Department–Owaise Saadat suggested that the results of the studies should be discussed separately by the Business Promotion Council lead by the Prime Minister.

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