Mon, 8 September
19.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Armenia to reduce bankruptcy costs and duration

YEREVAN, May 31 /ARKA/. The government of Armenia looked today into a set of proposed amendments to the Law on Bankruptcy, adopted back in 2006, which call for reducing the costs and duration of the bankruptcy process.

According to the Minister of Justice Artak Zeynalyan, despite some changes made to the law, it still contains flaws and problematic points, which were identified also by the World Bank.

Zeynalyan believes that reforms in this area will improve the position of Armenia in the WB Doing Business Index. The minister explained that Armenia’s current low standing in the index is due to a number of unsatisfactory indicators, including bankruptcy proceedings.

He said as part of the government’s program for 2018–2020, a number of bankruptcy reforms are envisaged, including increased accountability of bankruptcy managers.

Armenia is currently on the 41st position among 190 countries in the Doing Business Index. — 0–

spot_img

POPULAR

Freedom Broker Armenia ranks as one of the largest taxpayer in Armenia

Freedom Broker Armenia has been recognized as one of the largest taxpayers in the country, underscoring its leadership in the investment sector and commitment to sustainable business practices.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

ACBA Federation promotes rural tourism in Armenia: the success story of Manana guest house (video)

Four years prior, Astghik Ghazaryan, a professional educator, established the Manana guest house in her hometown of Marmarik.

Armenia to receive 45.3 million euros from ADB to improve healthcare quality

Armenia will receive 45.3 million euros from the Asian Development Bank (ADB) to improve healthcare quality, said First Deputy Minister of Health of the Republic of Armenia Lena Nanushyan during a meeting of the parliamentary standing committee on financial, credit and budgetary issues.

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img