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Enhancing Armenian Competitiveness: Successes and Challenges

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Presentation on theme: "Enhancing Armenian Competitiveness: Successes and Challenges"— Presentation transcript:

1 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 Macroeconomic 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 WB Doing Business ranking Top-Tier reformer in 2012 and 2013 # 32 in 2013 ranking (among 185 nations) Index of Economic Freedom One of the most liberal economies in Central Europe and Eurasia # 38 in 2013 ranking (among 177 nations)

3 Selected macroeconomic indicators for 2011

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

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

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

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
Improving access to finance 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 Workforce development 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 Business enabling environment Working with the Government and private to address critical investment climate constraints Enhanced productivity and improved market access Promoting B2B meetings – Digitec, Hannover Messe Tourism Promotion Strategy and Tourism Branding Strategy GMP Certification Organic certification

10 Thank you

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