Armenia simplifies licensing terms for foreign companies

YEREVAN, OCTOBER 21, ARMENPRESS. The government of Armenia approved today the draft law on making amendments to the Law on Licensing.

At the Cabinet meeting today, Minister of Economy Vahan Kerobyan said that recently their ministry has initiated a study of licensing activity types in order to make the participation of foreign companies to the activity of Armenia’s economy more available and affordable.

“As a result of that study we specified 13 activity types, for which we can allow to offer easier licensing terms to foreign companies. Thus, we are simplifying the licensing opportunity for legal entities of EAEU, EU states, the US, Canada, China, South Korea, Japan, UK, Iran, Georgia and the UAE in the following areas: private security activities, postal service, import or export of nuclear materials, equipment containing radioactive materials, organization of railway transportation activity, etc”, the minister said.

The minister said this will greatly improve the business climate and will enable the foreign companies to easier participate in the economic activity in Armenia.

Editing and Translating by Aneta Harutyunyan