RA GOVERNMENT CONTINUES ITS STEPS ON TURNING ARMENIA INTO A CENTER OF BUSINESS EXCELLENCE

YEREVAN, SEPTEMBER 18, ARMENPRESS:RA government continues its steps on turning Armenia into a center for business excellence, RA Vice Finance Minister Vardan Aramyan noted at the press conference summoned today in RA government. According to him, the executive body plans to form free economic zones, which will change the RA economic structure in the long-term prospect. It is one of the preconditions of turning Armenia into a center for business excellence. In that case the engagement in business in Armenia will become easier, the expenses of setting up in business will decrease, as the obligatory demand on having a regulatory capital for setting up in business has already been taken away. It is no more obligatory to have a seal as well. A goal has been put in the long-term prospect to pass gradually from the capital-bearing economy to a science-bearing one. V. Aramyan gave the example of the experience of Singapore in regard to being turned into a center for business excellence; it took Singapore 30 years to reach that goal. It will take Armenia a long `time` as well.