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IFC SUPPORTS THE ARMENIAN GOVERNMENT TO MAKE THE COUNTRY'S BUSINESS INSPECTIONS PROCESS MORE TARGETED
ARMENPRESS
JUNE 28, 2011
YEREVAN
IFC, a member of the World Bank Group, is supporting the Armenian
government's efforts to make the country's business inspections
process more targeted, transparent, and efficient.
New amendments to Armenia's inspections law-incorporating IFC advice
and adopted by the Armenian government on June 23-will enable the
introduction of risk-based inspections that group businesses into
three risk categories; high, moderate, and low-risk. The number of
inspections for businesses in the low-risk category will be reduced
significantly, saving businesses time and resources while making the
inspection system more efficient.
"These amendments are an important step in lowering the regulatory
burden on businesses," said Arsen Nazaryan, Project Manager of the IFC
Armenia Doing Business Reform and Regulatory Simplification Project.
"We look forward to continuing our close collaboration with Armenia's
Ministry of the Economy, the European Bank for Reconstruction and
Development and other partners to improve Armenia's investment
climate."
The IFC Armenia Regulatory Simplification - Doing Business Reform
Project is run in partnership with the Austrian Ministry of Finance,
the Ministry of Foreign Affairs of the Netherlands , the Luxemburg
Ministry of Finance, and the Consortium of Commercial Promotion of
Catalonia. The project is part of IFC's broader regional effort to
help governments in Europe and Central Asia implement reforms that
strengthen the small and medium business sector.
Since Armenia became a member of IFC in 1995, IFC has invested $110
million in 24 projects across industries, including financial markets,
general manufacturing, and mining. IFC Advisory Services provide advice
through projects focusing on the financial sector, sustainable energy,
and investment climate regulatory simplification.
IFC, a member of the World Bank Group, is the largest global
development institution focused on the private sector in developing
countries. We create opportunity for people to escape poverty and
improve their lives. We do so by providing financing to help businesses
employ more people and supply essential services, by mobilizing
capital from others, and by delivering advisory services to ensure
sustainable development. In a time of global economic uncertainty,
our new investments climbed to a record $18 billion in fiscal 2010.
From: A. Papazian
ARMENPRESS
JUNE 28, 2011
YEREVAN
IFC, a member of the World Bank Group, is supporting the Armenian
government's efforts to make the country's business inspections
process more targeted, transparent, and efficient.
New amendments to Armenia's inspections law-incorporating IFC advice
and adopted by the Armenian government on June 23-will enable the
introduction of risk-based inspections that group businesses into
three risk categories; high, moderate, and low-risk. The number of
inspections for businesses in the low-risk category will be reduced
significantly, saving businesses time and resources while making the
inspection system more efficient.
"These amendments are an important step in lowering the regulatory
burden on businesses," said Arsen Nazaryan, Project Manager of the IFC
Armenia Doing Business Reform and Regulatory Simplification Project.
"We look forward to continuing our close collaboration with Armenia's
Ministry of the Economy, the European Bank for Reconstruction and
Development and other partners to improve Armenia's investment
climate."
The IFC Armenia Regulatory Simplification - Doing Business Reform
Project is run in partnership with the Austrian Ministry of Finance,
the Ministry of Foreign Affairs of the Netherlands , the Luxemburg
Ministry of Finance, and the Consortium of Commercial Promotion of
Catalonia. The project is part of IFC's broader regional effort to
help governments in Europe and Central Asia implement reforms that
strengthen the small and medium business sector.
Since Armenia became a member of IFC in 1995, IFC has invested $110
million in 24 projects across industries, including financial markets,
general manufacturing, and mining. IFC Advisory Services provide advice
through projects focusing on the financial sector, sustainable energy,
and investment climate regulatory simplification.
IFC, a member of the World Bank Group, is the largest global
development institution focused on the private sector in developing
countries. We create opportunity for people to escape poverty and
improve their lives. We do so by providing financing to help businesses
employ more people and supply essential services, by mobilizing
capital from others, and by delivering advisory services to ensure
sustainable development. In a time of global economic uncertainty,
our new investments climbed to a record $18 billion in fiscal 2010.
From: A. Papazian