Armenia has the best climate for business out of all CIS countries according to a recent Forbes rating and is number 63 in a list of 121 countries, reported AZG Armenian Daily, citing a "Azatutyun" radio station broadcast.  The ranking takes into account both economic and political factors, including degrees of personal freedom, investor protection, corruption and economic policies.  According to Forbes, “Armenia's severe trade imbalance has been offset somewhat by international aid, remittances from Armenians working abroad, and foreign direct investment…The government made some improvements in tax and customs administration in recent years, but anti-corruption measures will be more difficult to implement.”  The report also states that high unemployment remains a problem and additional economic reforms are needed, especially in light of Armenia’s economic isolation from neighboring Turkey and Azerbaijan.
The other CIS countries to make the list were Georgia (No. 68), Kazakhstan (No. 69), Ukraine (No. 75), Azerbaijan (No. 82), Russia (No. 86), Moldova (No. 90) and Uzbekistan (No. 106).
This information was originally published July 1, 2008.  (www.azg.am)
-- 07/03/2008