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This presentation is made possible by the support of the American People through the United States Agency for International Development (USAID). The contents.

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Presentation on theme: "This presentation is made possible by the support of the American People through the United States Agency for International Development (USAID). The contents."— Presentation transcript:

1 This presentation is made possible by the support of the American People through the United States Agency for International Development (USAID). The contents of this presentation are the sole responsibility of [the authors/the consultant] and do not necessarily reflect the views of USAID or the United States Government. Enhancing Armenian Competitiveness: Successes and Challenges Paul Davis Chief Operating Officer & Vice-President The Pragma Corporation

2 Competitiveness climate in Armenia Equal treatment of local and foreign owned companies Stable Macroecono mic situation No restrictions on capital expatriation and foreign exchange operations Liberal trade regime: maximum import tariff rate - 10% (weighted average tariff rate – 4.7 %) and no export tariffs Top-Tier reformer in 2012 and 2013 # 32 in 2013 ranking (among 185 nations) WB Doing Business ranking One of the most liberal economies in Central Europe and Eurasia # 38 in 2013 ranking (among 177 nations) Index of Economic Freedom

3 Selected macroeconomic indicators for 2011 Source: data.worldbank.orgdata.worldbank.org

4 Recent success stories Real estate property registration Centralized collateral and finance lease registry for movable assets Property rights registration E-filing and e-invoicing for tax payment purposes Introduction of risk-based audit system Improvements in Tax Appeal System Tax administration reform - Business registration - Expanded provision of other e-Government services - IFRS introduction

5 Work in progress and Challenges Improving the procedures governing customs valuation, clearance and logistics Success story – Certificate of origin Best practice-compliant customs procedures - Inspection reform - Competition enforcement - Commercial arbitration / contract enforcement - Business insolvency and business liquidation Guillotine approach to eliminate, streamline and update regulatory guidelines Success story – Construction permits - Licensing - Permitting - Mandatory certification

6 Sector specific challenges Aviation liberalization Creating sustainable PPP framework in selected tourism destinations Hospitality / Tourism Internationally accredited laboratories Internationally recognized certification bodies HACCP compliance Food processing IPR enforcement Streamlining Sector specific customs procedures GMP standards in Pharmaceutical sector Pharmaceutical and IT

7 Major structural challenges Access to financing Inadequately educated workforce Infrastructure constraints Capacity to innovate The most problematic factors according WEF Global Competitiveness Index

8 Addressing competitiveness challenges - EDMC approach Sellected value chains High Tech Sector (IT & Engineering Services) Pharmaceuticals & Biotechnology Food Processing Hospitality Major types of interventions Enhanced productivity and improved market access Workforce development Business environment improvement Expanded access to finance

9 Addressing competitiveness challenges – EDMC approach Nom-collateralized lending Branchless distribution channels Trade finance instruments Small Enterprise Assistance Fund/SEAF. - The first equity investment in New Force LLT: to create regional food distribution platform Improving access to finance International accreditation of academic programs and certification courses Curriculum development jointly with industry champions and industry associations SME mentoring by local and international seasoned executives and entrepreneurs Workforce development Working with the Government and private to address critical investment climate constraints Business enabling environment Promoting B2B meetings – Digitec, Hannover Messe Tourism Promotion Strategy and Tourism Branding Strategy GMP Certification Organic certification Enhanced productivity and improved market access

10 Thank you


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