ArmInfo. Armenia provides good opportunities for investment in information technology, tourism, agriculture, industry, energy, etc. The Prime Minister of Armenia Nikol Pashinyan stated speaking at a business forum in Los Angeles.
According to Pashinyan, the Armenian government is pursuing an "open door" policy towards foreign investors, providing them with full ownership. And the protection of investments, the prime minister noted, is ensured by the law, which makes foreign investments inviolable in the event of legislative changes for 5 years.
In addition, as the head of government said, Armenia concluded agreements on mutual stimulation and protection of investments with 43 countries, including the United States. Armenia is also a member of the international center for the resolution of investment disputes. Agreements were concluded with 46 countries on avoiding double taxation and preventing tax evasion in respect of taxes on income and property, he said. In addition, in the World Bank's Doing Business - 2018 ranking, which reflects the ease of doing business in countries, Armenia ranks 47th among the 190 countries included in the study.
Armenia is part of the 180 millionth Eurasian market, and from January 1, 2014 - enjoys the benefits of the EU's Generalised Scheme of Preferences (GSP +). This scheme provides Armenia with additional preferences on export tariffs to the European Union and is based on strict criteria that allow exporting over 6 thousand products in a preferential regime.
The GSP preference system with the USA and Switzerland also operates for the Armenian business. "We will continue deep and comprehensive reforms to improve the business environment," Nikol Pashinyanm emphasized, noting that Armenia has consistently strengthened cooperation with both the EAEU, Europe and the USA.
It should be noted that during the business forum, a memorandum of cooperation was signed between the Chamber of Commerce and Industry of Los Angeles and the Ministry of High-Tech Industry of Armenia, between the Ministry of Economy of the Republic of Armenia and the Los Angeles World Trade Center. Within the framework of memoranda of cooperation, Armenia and Los Angeles will cooperate and exchange experience, in particular, in the areas of IT and economics.