YEREVAN, OCTOBER 10, ARMENPRESS. The Armenian government proposes to make changes in the state procurement process according to which a company will be required to present a bank guarantee in case of the state procurement contract worth more than 10 million AMD, Finance Minister Atom Janjughazyan said during today’s Cabinet meeting.

Prime Minister Nikol Pashinyan noted that after these regulations enter into force no “fake” company would be able to participate in the state procurement process.

The finance minister added that the requirement of bank guarantee will not cover the contracts signed before the amendment of law.

Edited and translated by Aneta Harutyunyan