Sectorial Brochure IT Sector of Armenia/ BA - Page 8

56 th Networked Readiness Index (out of 139) Mobile network coverage st 1 st 1 Internet & telephony competition Adult literacy rate th 8 BUSINESS ENVIRONMENT DOING BUSINESS 2019 41 MODERATELY FREE st STARTING A BUSINESS 8 7 th ECONOMIC FREEDOM INDEX 2018 44 th REGISTERING PROPERTY 14 th INVESTMENT FREEDOM 75 % MOSTLY FREE OUT OF 190 COUNTRIES OUT OF 180 COUNTRIES Source: World Bank, Doing Business Database Source: Heritage Foundation Database Takes 3 days to open a company, 7 days to register property Five-year investment protection from changes in legislation E cient e-governance services in place Free exchange of foreign currencies and repatriation of profit 100% foreign ownership permitted Well-regulated banking system No restrictions on investment sectors Foreign companies registered in Armenia have the right to buy land