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.