Friday, December 8 2017 19:57

ArmInfo. In Armenia, by the end of 2018, an electronic system of e-Regulations will be introduced to improve the investment environment and increase the confidence of foreign investors. This will be done within the framework of the grant program "Electronic management as a tool for attracting foreign investments" from the Development Fund of Armenia (DFA) and the United Nations Development Program (UNDP). Acting UNDP Resident Representative in Armenia Dmitry Maryasin  stated on December 8 at a press conference during which a corresponding document was signed between the UNDP Armenian office and the Austrian Development Agency.

"Today, this program operates in 30 countries. Formally, its launch in Armenia will begin in January 2018," he said. According to D.Maryasin, the program will be implemented with the funding of the Austrian Development Agency, with budget of 332 thousand EUR.

He explained that the system implies a working site, in which for investors will be provided step-by-step information necessary to enter the Armenian market. "If you choose a certain step, be it buying land, operating infrastructure, obtaining a license, etc., information will be provided to the investor with appropriate instructions, in particular, the package of documents to be downloaded. In addition, the responsible structure and the official to be contacted will be indicated. The hotline will also operate within the system," the UNDP representative explained.

DFA Executive Director Armen Avag Avagyan noted that the program, as a result of identifying the main obstacles to attracting investment, will help increase investor confidence in Armenia and transparency of operations. "In my opinion, the most important thing is that the investor enters Armenia with "open eyes", knowing what to expect, so as not to end up with problems. This program will help reduce corruption risks," he said.