YEREVAN, 3 November 2011 – Promoting good economic governance in Armenia through the rapid regulatory simplification mechanism, also known as a “regulatory guillotine”, is the aim of a project supported by the OSCE Office in Yerevan launched today in Yerevan.

In response to the Armenian Government’s request, the OSCE Office inYerevaninvited a leading international expert in regulatory reform in February to carry out a rapid assessment ofArmenia’s business environment and tools for creating better state regulatory management system. The assessment concluded that many outdated and contradictory regulations impede business development in the country and that regulations should be streamlined inArmenia.

“By signing this letter of intent today, the OSCE pledges to support the government’s efforts to carry out regulatory reforms, which will increase accountability and transparency, decrease corruption risks and makeArmeniaattractive to foreign investors. The “regulatory guillotine” has been performed in many countries worldwide and has resulted in an increase in business activities and foreign direct investment,” said Carel Hofstra, the Acting Head of the OSCE Office inYerevan.

The project will involve reviewing and streamlining the national regulatory frameworks affecting business activity and the daily lives of people in the country. Throughout the duration of the project, which will begin activities on 1 December and continue until 31 November 2013, a Joint Dialogue Forum will be supported to facilitate the exchange of information and further discussions between stakeholders.

Alongside the OSCE Office in Yerevanand the Armenian Government, the letter of intent was signed by the Austrian Development Agency and the local presences of USAID, the World Bank and UNDP.

For more information please contact Gohar Avagyan, National Public Information Officer, at 22 96 10/ 11/12/13/14 ext. 5406, mob. (091) 436389.