U.S. Ambassador shares concerns over high level of Armenia`s economy monopolization

ArmInfo. U.S. Ambassador to Armenia Richard Mills shares concerns over high level of Armenia's economy monopolization, he told journalists on November 10.

According to him, monopoly may be the reason that Armenian market is closed. In this context the diplomat emphasized that closed Armenian-Turkish border also leads to the development of monopolies.  He also noted that the U.S. Embassy will make efforts in order not to let this situation impact on the small and medium business.

The diplomat also thinks that the Armenian economy should be more attractable for the foreign investments. "The U.S. Embassy cannot force U.S. businesses to invest in Armenia.  It is up to Armenia to attract that investment", he noted. Therefore, the U.S. Embassy will focus its work on helping to create a business environment in which all companies - Armenian, American, Russian or whatever --can compete fairly, thus increasing investor confidence, the Ambassador said.

To note, earlier Mills stated that corruption is a serious problem for Armenia and plays an important role in the daily life of the country.  "Corruption hinders not only the overall development of the country, but also pose a threat to national security because of corruption schemes the external forces have access to the government of the country", - said the Ambassador Mills. According to the Ambassador, the question is, whether the country has capabilities, leverage, and most importantly, the will to fight against corruption in cooperation with civil society. "If we cannot solve this problem, it will affect the relations between our countries in specific areas, such as impact on investment. I am attaching great efforts to the promotion of trade relations and investments between Armenia and the United States:  corruption hinders the realization of our common interests, which we have with the people of Armenia, hinders the realization of our common goals, impedes our relations", he noted.  According to Ambassador Mills, if the Anti-Corruption Council, established under the Government of Armenia will not solve these problems, it will hurt investment opportunities in the country.