Armenian Prime Minister: We analyzed 341 investment program worth $ 3.2 billion

ArmInfo. The Armenian Prime  Minister Karen Karapetyan held a meeting with representatives of the  European Business Association and European companies operating in the  republic.  The press service of the Government told ArmInfo that the  head of the EU delegation to Armenia Piotr Switalski attended the  meeting.

Karapetyan noted the importance of cooperation between the Government  and Business community, seeing business as a partner and pushing  force of the economy.

"We sent you multiple signals and hope you are aware of them. 100  days work of the Government, diagnosis of problems and taken steps  are aimed at improving the business environment. Be sure that we are  committed to this issue. We attach importance to European business  involvement to Armenian, both as a culture of management and  investments. We are ready to listen to your suggestions", said the  Armenian Premier. In this context he noted the importance of   cooperation between Business sector and the Center for Strategic  Initiatives. 

Speaking about the Government's investment programs, Karapetyan said  that the executive body carried out the collection and analysis of  those investment programs, which have been received during the visit  in the regions by the private sector and line ministries. He informed  that by the results, 341 investment programs were collected amounting  $3.2bln, which will be funded from various sources, particularly,  from state budget and private sector. "These programs have financial  sources and partners. We find real to implement programs amounting  $840mln in 2017. Currently, there are more 79 investment programs  amounting $5.3bln are discussed in the Government. We consider those  programs to be logistical, we have preliminary agreements and they  are open in terms of investment and partners", said the Armenian  Government head.

In his turn, Switalski noted that the given meeting is a good  possibility to present the problems, suggestions and interesting  questions. At the same time he noted the importance of initiatives  take by the Government to improve the business environment and the  readiness to support the business in different issues.  

Karapetyan also informed that considering the existing problems and  complains of business, the Government will pay special attention on  improvement of customs and tax administration. "In the near future  the State Revenue Committee will submit a list of bona fide  taxpayers. Banks will provide loans to these entities at lower rates,  but not because we will act as intermediaries but because they are  predictable, credible and understandable. We will do everything so  that the business, working in the legal field has received benefits",  noted the Premier. He also added that the Government considers its  firs function not to create obstacles for business, and the second  function to stimulate business, which is extremely important nowadays  considering the lack of trade activities.   

According to Armenian National Statistical Service data, the volume  of foreign trade turnover between Armenia and EU increased by 2.1% in  2016 to $ 1.2bln, in particular, exports increased by 15.9% to  $478.8mln, with a slump in imports by 5.2% to $739.9mln.