Yerevan /Mediamax/. Armenia needs to further improve the business environment and competitiveness, and facilitate FDI and exports to create well-paying jobs.

World Bank report “Armenia: Looking for More Dynamism” reads this.

The report highlights the importance of young, exporting firms for job creation.

“The bulk of new jobs in most countries are created by a small group of fast-growing companies”, the report notes.

The document reads that the government’s medium-term reform agenda - supported by the ongoing Development Policy Operation supported by the World Bank - reflects these priorities including reforms in business environment and public administration sectors. 

These reforms are expected to create jobs by reducing the costs of doing business for firms as well as expanding access to credit to SMEs.