Doing Business-2012: results need to be properly applied – Armenian expert

Although the Doing Business-2012 report is a positive one, the figures are not inspiring."The report is supposed to have real impact on our real sector with respect to creation of more jobs, wage increase. However, we have not yet recorded any essential growth," Vazgen Safaryan, Chairman of the Union of Native Commodity Producers, said at a conference on Doing Business-2012 and general economic situation in Armenia."The average monthly wages, AMD 118,000, is not the figure that can resolve the problem of consumer basket. The figures are of high importance for our country's international image. But we should properly apply they figures in practice," Safaryan said.He is sure that Doing Business-2012 is a really unbiased report: the figures are based on the economic indices recorded in Armenia last year."Some economic growth in the country is a fact. Our economy showed 7.6% economic growth this January-September," Safaryan said.Armenia's industry showed a 111. 6% growth and agriculture 10.5%. On the other hand, the construction sector has shown a decline year by year.Mr Safaryan had meetings with Armenia's Prime Minister Tigran Sargsyan and discussed a number of economic development mechanisms."We decided that amendments be made to the investment clause of Armenia's law on value-added tax, which would exempt economic entities from the value-added tax for three if they imported equipment worth more than AMD 300m," Safaryan said."We raised the issue of reducing this limit for SMBs to take advantage of the law. The premier instructed the minister of economy to draft proposals," he said.The AMD 300m budgeted for economic development next year is expected to be distributed as low-interest loans.The Union also plans to apply to the home producers that can contribute to the industrial fund being created now.   Read more... (290 words)

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