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Business Environment Improvement

Business Environment Improvement

Private sector growth is driven by a favorable business enabling environment composed of the policy and legal/regulatory framework and institutional oversight and enforcement system governing private sector activity. The core objective of the Business Environment Improvement component is to develop and promote effective implementation of key recommendations for improving laws and secondary legislation and related institutional oversight systems regulating the business enabling environment; with a particular focus on legal/regulatory reform areas critical to increasing the volume and efficiency of investment in EDMC-supported sectors. Component activities are aligned with government-led reform actions, including the Regulatory Guillotine Program, and other major governmental and related donor initiatives.

The Business Environment Improvement team is currently developing reform actions and legislative changes based on joint discussions with the Government, private sector, business associations, and other stakeholders that address legal/regulatory constraints which are inhibiting the growth of value chains in supported sectors. Key areas of engagement include activities designed to promote employee-sponsored vocational education and training, enforcement of fair competition procedures and small and medium-sized enterprise (SME) access to procurement. Other major areas include a focus on compliance and harmonization with European Union legislation. In addition the Component is developing targeted recommendations for improving the draft law on pharmaceuticals, as well as assisting in the development of a new law on copyrights. The Business Environment Improvement team is also recommending improvements in the legal framework for the growth of e-commerce in Armenia.

In addition the Component is carrying out a comprehensive review of legislative and procedural norms applicable to enterprises in supported sectors and continues related cooperation with the Regulatory Guillotine Program to focus in depth on streamlining unnecessary regulatory requirements for SMEs.

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