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Armenia has improved its positions by 18 points compared to last year when it placed 50^th and now spots 32^nd in the annual Doing Business ranking issued by the International Finance Corporation and the World Bank. Karine Minasyan, First Deputy Minister of Economy, announced during the regular session on IT Development Support Council headed by the RA Prime Minister Tigran Sargsyan held in ‘Synopsis Armenia’.

‘This year we have had an unprecedented improvement. We ranked 32^nd out of 184 countries. Of course, this is a good index, but there is still place for progress and our efforts should be directed to improve the position of Armenia’ Prime Minister Sargsyan said.

Georgia jumped from the 16^th to 9^th position, Azerbaijan is ranked 67^th, Turkey – 71^st and Iran 145^th.

The most favorable states for doing business are Singapore, Hong Kong, New Zealand, U.S. and Denmark.

Doing Business 2012 is the ninth in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. It covers regulations affecting 11 areas of the life of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers.