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Armenia CIS Leader By Economic Freedom Index

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  • Armenia CIS Leader By Economic Freedom Index

    ARMENIA CIS LEADER BY ECONOMIC FREEDOM INDEX

    Noyan Tapan
    Mar 13 2006

    YEREVAN, MARCH 13, NOYAN TAPAN. Armenia ranks 27th (being considered
    as a "mostly free" country) in the table of the 2006 annual rating
    of economic freedom of the Heritage Foundation and the Wall Street
    Journal. Vahagn Movsisian, Director General of the Armenian Development
    Agency (ADA), stated this at the March 11 press conference. According
    to him, the rating showed that Armenia is the CIS leader by the
    economic freedom index. It shares 27th place with Japan and Bahamas,
    while Georgia is in 68th place, Azerbaijan - 123rd, Turkey - 85th,
    Iran - 157th, Ukraine -99th and Russia is in 122nd place out of 161
    countries. V. Movsisian said that during the Business Assistance
    Council (BAC) sitting (Armenian Prime Minister is BAC Chairman, the
    ADA Director General - BAC Secretary), the new database on business
    corruption risks, including the conclusions of the research conducted
    by the international organization FEAS, will be examined. A working
    group composed of 50 businessmen was set up at the BAC for the purpose
    of creating the database. He reminded that such a database was created
    in 2001 after the foundation of the BAC. Later, corruption risk-related
    issues were discussed at 24 sittings of the BAC. According to ADA
    Director General, the gradual solution of these issues has contributed
    to the fact that Armenia is 27th by the economic freedom index (44th
    in 2005), and the investment climate has significantly improved in
    the country.
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