Yerevan, Armenia, March 28, 2011—IFC, a member of the World Bank Group, helped the Armenian government reduce the number of procedures required for companies to obtain a construction permit, The streamlined application process will save time and costs for construction companies. “The improved procedures will help make the process for getting construction permits more transparent and less costly, and also help boost development of the construction industry in Armenia, which will support job growth,” said Thomas Lubeck, IFC Regional Head for the Caucasus. With advice from IFC, the Armenian government amended the regulations governing the issuance of construction permits. The new amendments are expected to reduce the number of steps required from 20 to 7, and to cut the time required to obtain a permit from an average of 137 days to 27 days. A recent IFC report, Dealing with Construction Permits in the Republic of Armenia, provided recommendations on how to streamline the construction permit process. IFC presented the report to the Armenian government in December 2010. Based on IFC recommendations, the government strengthened its risk-based approach to providing construction permits, categorized buildings by risk, streamlined procedures for providing construction permits for low risk buildings, and defined clear guidelines for the rejection of construction permit applications. The IFC Armenia Regulatory Simplification – Doing Business Reform Project supports small and medium-sized businesses by providing advice to the Armenian Government on improving the investment climate. IFC is implementing the project in partnership with the Austrian Ministry of Finance, Netherlands Ministry for Development Cooperation, Luxemburg Ministry of Finance, and the Consortium of Commercial Promotion of Catalonia. Since Armenia became a member of IFC in 1995, IFC has invested $110 million in 24 projects across the industry spectrum including financial markets, general manufacturing, energy, mining and chemicals. IFC Advisory Services provide advice through projects focusing on the financial sector, sustainable energy, and regulatory simplification.

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