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Official News

Thursday, 3 March 2011

Business environment set to improve



A cabinet sitting was held today under the chairmanship of Prime Minister Tigran Sargsyan

The Prime Minister directed the ministers and agency heads to be more active in making public speeches and introducing the State policy to the public-at-large.

The Cabinet amended a previous decision stipulating that the purification of precious metals and the production of banking gold and standardized gold bars will not be subject to licensing. The decision seeks to improve the business environment based on free competition and market relations.

The government next decided to amend the norms applicable in the sphere of construction by considerably reducing the number, the duration and the cost of procedures necessary for the conduct of urban development activities. According to the Prime Minister, the State is thereby facilitating the delivery of development permits in compliance with the President’s electoral program. While the whole process takes some 1 million drams and 137 days to complete today, the developers will henceforth be required to spend only 27 days and a relatively less amount for the same purpose, which is also a strong check on corruption risks.

Amending the list of eligible assets applicable to those commercial entities exempted from State duty liabilities and supposed to replenish their statutory capital, the government removed vehicles, motorcycles and bicycles from the list considering that the aforementioned assets are imported exclusively for maintenance purposes and cannot be deemed as statutory capital replenishing articles.

The meeting decided to allocate to the Armenian Development Agency CJSC premises for free use over a period of ten years as located at Mher Mkrtchyan N5 and owned by Ministry of Economy Staff public administration entity.

The State Property Management Department by the Government was authorized to put up for auction sale 28 units of transport with 70% and over depreciation belonging to the Staff of State Revenue Committee by the Government. Under another decision passed at the meeting, the head of the State Property Management Department by the Government was assigned to ensure the presence of an authorized representative for the public stake at the general meeting of Metro Trade Center CJSC instructing such authorized representative to back the decisions regarding company dissolution.

The government approved the order of priority in estimating and distributing profits and dividends within such commercial entities as have a State-owned stake in their statutory capital. The decision is expected to boost the dividend-based budget receipts by AMD 150mn. In the words of the head of government, the State is consistently strengthening the toolkit applied in the management of State-participated enterprises. The matter has often been subject to National Assembly discussions as the MPs wish to come aware of the tools used by the government in managing the State-owned assets. Besides, the government needs to understand whether it is expedient to keep a public stake within a number of entities.

The meeting agenda comprised some 3 dozen questions altogether.
 

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