YEREVAN, January 15. /ARKA/. The government of Armenia will develop a system of mechanisms to encourage local companies to enter the capital market, Economy Minister Tigran Khachatryan told reporters on Tuesday, adding that the goal is to improve the country's position in the World Bank's Doing Business report,

The World Bank's latest Doing Business survey downgraded Armenia’s position despite reporting an improvement in the country’s investment climate. Armenia ranked 47th. The Doing Business survey assessed economic conditions in 190 nations with a range of specific indicators. Armenia was 41st in last year’s global rankings.

“Other things being equal, we can say that Armenia did not change its position in the Doing Business report. The changes were caused only by the methodology used by the World Bank to calculate the parameters,” Khachatryan said.

According to Khachatryan, to change the situation, the government is working on the development of the capital market. It held consultations with specialists in the field and, based on their proposals, is developing relevant recommendations.

The minister said the process will be lengthy, since it takes more than a year to organize the entry of a company into the capital market.

Despite this, he expects that tangible results will be recorded in this direction at the end of the year. –0--