Favorable Investment Conditions in Karabagh

YEREVAN (Noyan Tapan)–During a November 12 roundtable discussion devoted to investment issues–the Prime Minister of the Nagorno-Karabagh stated–"we are deeply grateful for the moral and material assistance received and still receive from our compatriots of Armenia and the Diaspora for Artsakh’s consolidation."

With its political stability–favorable tax environment–stable banking system–"Karabagh," Danielian stressed–"has created a great investment environment." Due to economic reforms implemented by the government–foreign investors–including representatives of the Armenian Diaspora–have pumped 30 million dollars into the country within the past two-and-a-half years. As a result of these investmen’s–1.5 thousand jobs were created.

According to the prime minister–during the first nine months of this year–the country’s GDP was approximately 19 billion drams (nearly 33.3 million dollars)–exceeding the same period of last year by 14%. The volume of foreign trade increased 63% and totaled 24 billion drams; imports totaled 19 billion (41% growth)–with exports totaling 5.5 billion drams (3.5 fold increase).

The most essential task set before the NKR leadership–revealed Danielian–is to create jobs and improve the living standards of the population. Various programs have been developed for separate sectors of economy: the construction of a mini-HPP–rehabilitation of the irrigation system–use of natural resources–and development of information technology. In implementing these projects the Nagorno-Karabagh Republic seeks assistance from Armenia and the Diaspora.


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