Business registration procedure will become more transparent and simplified.

Launched in April 2018, the “E-Governance as an Electronic Tool for Facilitating the Government to Attract Foreign Investments” project is implemented by the Business Armenia and UNDP in Armenia to improve the investment climate and doing business in Armenia. It is funded by the Austrian Development Agency. During the project, an electronic tool called e-Regulations will be introduced through the support of UNCTAD (United Nations Trade and Development Conference). The e-Regulations will provide detailed information on 12 selected procedures related to investment in Armenia also allowing to simplify them.

The introduction of “eRegulations” tool by Business Armenia (BA) and UNDP in Armenia has commenced. The UNCTAD () experts paid a three-day visit to Armenia to train the BA business Aftercare specialists as well as help them map the business registration procedure and present it on-line, step-by-step from the user’s perspective in “e-Regulations” portal. This will also allow to provide the government with simplification recommendations` without even changing the laws and regulations. In the future, at least additional 11 procedures will be mapped and presented on-line.

“As an outcome of the project, the Business Armenia will describe in detail 12 most complex and important investment-related procedures for businesses, which may provide a basis for their further simplification. Also, our Business Support team will be capable to carry on describing the investment-related procedures after the completion of the project as well”, said Armen Avak Avakyan, CEO of Business Armenia.

“UNDP attaches great importance to the improvement of investment climate in Armenia and we are confident that the eRegulations tool applied by the UNCTAD in over 30 countries will be instrumental in improving the investment promotion and overall business climate in Armenia”, said Dmitry Mariyasin, UNDP Deputy Resident Representative  in  Armenia.

The experts also met with officials of the Ministry of Justice, the State Revenue Committee, the State Registry of Legal Entities, and presented the project goals and the methodology.