Officials Give Reasons for Investment in Armenia

YEREVAN (Noyan Tapan)–There are at least seven reasons to invest in Armenia–Executive Director of the Armenian Development Agency Gagik Yeghiazarian said at a business forum held late last week as part of the Armenia-Diaspora Forum.

According to him–these reasons are as follows:

*The possibility of entering the CIS and Middle-East markets;

*Government’s consistent reforms aimed at private sector development;

*Liberal trade policy and favorable investment-related legislation;

*Small–but rapidly developing and well-managed banking system;

*Rapidly developing economy;

*High-quality labor force and research potential;

*The Diaspora.

Yeghiazarian pointed out that it is much more advantageous for producers to enter the CIS–in particular–Russian markets through Armenia. Moreover–being located on the Silk Road–Armenia is geographically favorable from the viewpoint of Middle-East markets.

He pointed out that the Armenian government expects serious investmen’s to restore the existing transport routes and create new ones.

Addressing the government’s measures aimed at improving the investment field–Yeghiazarian pointed out the existence of intergovernmental agreemen’s abolishing double taxation–ensuring of investors’ protection and free trade–as well as possibilities for free movement of capital–stable banking system etc..

Yeghiazarian expressed optimism that the discussions held at the forum will be followed by practical steps.

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