Monday, July 8 2019 20:09
Marianna Mkrtchyan

Singaporean businessmen to visit Armenia to get familiar with  investment opportunities of the republic.

Singaporean businessmen to visit Armenia to get familiar with  investment opportunities of the republic.

ArmInfo. Within the framework of the official visit to Singapore, the delegation headed by Prime Minister Nikol Pashinyan held a round-table discussion with  representatives of the Business Federation of Singapore Foundation.

As reported to ArmInfo in the press service of the RA government,  Executive Director of the Business Federation of Singapore  Foundation, Ho Meng Kit, stressed the importance of meeting with the  Prime Minister of Armenia and representatives of the Armenian  delegation. According to him, this meeting is a good opportunity for  developing business contacts between the two countries, giving them a  new impetus and initiating new projects. He also assured that  Singaporean businessmen are showing interest in Armenia and are ready  to explore the country's investment opportunities and discuss  cooperation prospects.

The executive director of the fund also stated that the planned to  sign a document between the Eurasian Economic Union and Singapore on  a free trade zone is also a practical opportunity to intensify  business contacts, and Armenia can become an important platform for  entering third-country markets.

In turn, Pashinyan noted that the political relations between Armenia  and Singapore are at a high level, expressing the hope that the  current visit will further strengthen them, as well as stimulate  economic cooperation. "Armenia is in the process of economic  transformations, and we are constantly working to create favorable  conditions for economic growth and for those who are engaged in  business," the head of government assured.

The head of the executive body touched upon the reforms initiated by  the government, spoke about the steps taken to improve the tax and  customs sector, as well as the reforms of the judicial system aimed  at creating guarantees for foreign investment. Pashinyan noted that  the velvet revolution that took place last year in Armenia, as well  as radical political changes did not lead to economic shocks, the  banking system continued to operate stably, there were no cases of  redistribution of property, which was due to the non- violent and  peaceful nature of these events.

The head of government presented the macroeconomic indicators of  recent months, noting that they continue to grow and affect areas in  which there is the potential for cooperation, such as information  technology, tourism, including ecological, gastro tourism, food  industry, air traffic, infrastructure, etc. d.  "The Singapore way of  development and accumulated extensive experience are interesting for  Armenia and can be useful in the further process of our reforms. We  are interested in sharing experience and implementing joint  investment programs," Pashinyan said.

The meeting presented in detail the potential of the Armenian IT  sector, development trends, trends in the field of digitalization and  opportunities for cooperation, as well as prospects for cooperation  in the economic sphere.

Representatives of the fund expressed their gratitude for the  detailed presentation of Armenia's investment opportunities, assuring  that they are interested in making investments in the Armenian  economy and intend to visit Yerevan in the near future to familiarize  themselves with the country's potential.

An agreement was reached on the organization of reciprocal visits of  representatives of the two countries' business, in order to  familiarize themselves with the investment opportunities on the  ground. In conclusion, Pashinyan informed that in October of this  year, the annual international IT conference will be held in Armenia  and we will invite Singaporean IT companies to take part in this  important event in the field of high and information technologies. 

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