According to “Doing Business 2012: Doing Business in a More Transparent World” report, published by the International Finance Corporation and the World Bank on October 20, Armenia has carried out from June 2010 to May 2011 five regulatory and institutional reforms, which is the most number of reforms in the region and the world. Armenia improved its rating by six points and it is now in the 55th place. According to the Ministry of Economy, Armenia has essentially improved its position in the following five fileds: founding companies, receiving building permits, receiving loans, paying taxes, and closing (liquidating) enterprises. Among CIS countries Armenia ranks the second after Kazakhstan.

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