2014年-世界发展银行全球_Enterprise_Surveys___Armenia_Country_Profile_2013_15页_1mb

Armenia Country Profile 2013: Enterprise Survey Summary

Core Content Overview

The Armenia Country Profile 2013 provides a comprehensive analysis of the business environment and firm performance based on data from the Enterprise Surveys conducted by the World Bank and the International Finance Corporation (IFC). These surveys focus on key areas such as corruption, regulations, taxes, business licensing, infrastructure, trade, crime, informality, finance, and innovation. The data is benchmarked against the Eastern Europe & Central Asia region and the Lower Middle Income income group, offering a comparative perspective on business conditions.

Main Topics and Key Indicators

1. Business Environment Obstacles

• Top Constraints: The surveys highlight the main obstacles firms face, such as corruption, inefficiencies in regulations, and delays in obtaining permits and licenses.
• Firm Size Differences: The top 3 constraints vary by firm size, with small firms facing more challenges in some areas compared to large firms.
• Regional Comparison: Armenia's business environment is generally less favorable than the regional average, particularly in areas like corruption and regulatory delays.

2. Average Firm Characteristics

• Age of Firms: The average age of firms in Armenia is 13.5 years, slightly below the regional average of 13.4 years.
• Gender Participation: Female representation in top management is 19.0%, and in firm ownership is 24.7%. These figures are close to the regional average.
• Ownership Structure: Most firms in Armenia are closed shareholding companies (95.2%), with very few being sole proprietorships or foreign-owned (4.8%).

3. Infrastructure

• Electricity: Firms in Armenia report 0.3 power outages per month, with 0.1% of sales lost due to these outages. The time to obtain an electrical connection is 5.1 days, which is better than the regional average of 43.8 days.
• Water Supply: There are 0.0 water shortages per month, and the time to obtain a water connection is 12.5 days. This is better than the regional average of 33.2 days.
• Telephone Connections: No data is available for telephone connections, but the regional average is 27.6 days.

4. Trade

• Export Activity: 8.9% of firms in Armenia are exporters, which is below the regional average of 22.8%.
• Use of Foreign Inputs: 81.1% of firms use foreign material inputs, slightly above the regional average of 62.3%.
• Customs Delays: The average time to clear direct exports through customs is 7.8 days, and for imports, it is 17.6 days. These are lower than the regional averages of 4.4 days and 6.1 days, respectively.
• Transport Losses: No losses due to theft or spoilage during exports are reported, while losses during imports are not quantified.

5. Regulations, Taxes, and Business Licensing

• Time to Obtain Licenses: The time to obtain an import license is 8.8 days, while for a construction permit it is 20.7 days, and for an operating license it is 30.1 days. These are generally lower than the regional average of 15.4 days, 83.2 days, and 24.0 days, respectively.
• Government Interaction: Senior management spends 12.4% of their time dealing with government regulations, slightly above the regional average of 11.0%.
• Tax Inspections: On average, firms have 1.3 visits with tax officials, which is slightly lower than the regional average of 1.4 visits.
• Legal Forms: Closed shareholding companies dominate the private sector (96.6%), while open shareholding companies are rare (0.5%).

6. Corruption

• Graft Index: 9.9% of firms in Armenia reported being asked or expected to pay bribes, which is lower than the regional average of 13.3%.
• Gifts to Officials: 4.8% of firms expected to give gifts during meetings with tax inspectors, and 20.9% expected to give gifts to obtain a construction permit.
• Government Contracts: Only 2.5% of firms expected to give gifts to secure a government contract, lower than the regional average of 24.4%.
• Import Licenses: 0.9% of firms expected to give gifts to obtain an import license, which is also below the regional average of 10.5%.
• Operating Licenses: 11.2% of firms expected to give gifts to obtain an operating license, slightly below the regional average of 10.6%.

7. Crime and Informality

• Court Fairness: 34.7% of firms believe the court system is fair, impartial, and uncorrupted, which is slightly below the regional average of 38.1%.
• Security Costs: Security costs amount to 0.9% of sales, which is lower than the regional average of 1.3%.
• Losses Due to Crime: 0.1% of sales are lost due to theft, robbery, vandalism, or arson.
• Informality: 99.8% of firms are formally registered when they started operations, indicating a low level of informality compared to the regional average of 85.0%.

8. Finance

• Internal Finance: 71.1% of firms rely on internal finance for investment, which is close to the regional average of 71.2%.
• Bank Finance: 10.2% of firms use bank finance for investment, lower than the regional average of 14.8%.
• External Financing: 31.1% of firms use external financing for working capital, slightly below the regional average of 24.5%.
• Collateral Requirements: The average collateral needed for a loan is 257.6% of the loan amount, which is higher than the regional average of 187.3%.
• Bank Access: 46.3% of firms have a bank loan or line of credit, which is lower than the regional average of 39.1%.
• Bank Accounts: 91.1% of firms have a checking or savings account, close to the regional average of 88.6%.

9. Innovation and Workforce

• Quality Certifications: 22.5% of firms have internationally recognized quality certifications, which is slightly below the regional average of 22.6%.
• Financial Audits: 19.8% of firms have their financial statements reviewed by an external auditor, lower than the regional average of 34.9%.
• Website Usage: 74.8% of firms use their own website, which is higher than the regional average of 36.6%.
• Email Communication: 88.8% of firms use email to communicate with clients and suppliers, slightly above the regional average of 65.1%.
• Workforce Composition: On average, firms employ 1.1 temporary workers and 43.6 permanent, full-time workers. The percentage of full-time female workers is 47.0%, which is slightly above the regional average of 34.5%.

Key Takeaways

• Corruption and Regulatory Barriers: While Armenia reports lower levels of corruption than the regional average, regulatory and licensing processes still pose challenges, particularly for construction and operating licenses.
• Infrastructure: Electricity and water infrastructure is relatively efficient compared to the regional average, though the time to obtain connections is still a concern.
• Trade: Trade activity is limited, with only a small percentage of firms exporting directly. However, firms widely use foreign inputs, and customs delays are lower than the regional average.
• Finance: Internal finance dominates, but access to bank loans is limited. Collateral requirements are high, and there is a need for improved financial services.
• Innovation and Workforce: There is moderate use of international certifications and technology, with a relatively high percentage of firms using email and websites. Female participation in the workforce is notable, though not as high as in some other regions.

This profile offers critical insights for policymakers and researchers aiming to improve the business environment and support sustainable development in Armenia.