Friday, November 22 2019 11:35
Alexandr Avanesov

It is planned to develop a roadmap for improving investment policy in  Armenia

It is planned to develop a roadmap for improving investment policy in  Armenia

ArmInfo.Deputy Economy Ministers of Armenia Arman Hovnanyan and Avag Avanesyan participated in the official presentation of the report on investment policy of  Armenia at the UN Conference on Trade and Development in Geneva.

As the press service of the Ministry of Economy of the Republic of  Armenia reports, the report was compiled on the basis of Armenian  legislation following discussions with the private sector, diplomatic  missions and international organizations, UN experts who participated  in the development of the project on the initiative of the President  of Armenia Armen Sargsyan. The document outlines the main directions  of the investment policy of Armenia for the near future, taking into  account already implemented and planned reforms.

The Permanent Representative of the Republic of Armenia to the UN in  Geneva, the Ambassador of Armenia to Switzerland, Andranik  Hovhannisyan, made an opening speech, who noted that Armenia is  moving towards an economic revolution based on high technologies and  innovative activities, and today a business environment is being  created to achieve this goal.

In turn, the permanent coordinator of UN programs in Armenia, Shombi  Sharp, added that now is the time to invest in Armenia.

Deputy Minister of Economy Arman Hovnanyan made a report on the  investment environment of Armenia, referring to a number of  recommendations contained in the report and the reforms carried out  by the Government of the Republic of Armenia in these areas, in  particular, in the field of sustainable development, investment  promotion, tax policy and justice.

The UN Permanent Representatives, diplomats, and private sector  representatives took part in the discussion of the report. The  results of the event were summed up by the Deputy Minister of Economy  of the Republic of Armenia Avag Avanesyan, who noted that the  investment policy is a project ensuring sustainable development.

During the discussion of the report, a number of areas were  identified for the potential development of the country, including  high technology, tourism, textile industry, winemaking, agriculture  and pharmaceuticals.  They also considered prospects for the  development of a number of potential areas, which include business  outsourcing, regional logistics, food security, aircraft repair and  maintenance, regional financial services and higher education.  Based  on expert discussions and recommendations contained in the report, it  is planned to develop a roadmap for improving investment policy, the  implementation of which will help to improve the investment  environment in Armenia and increase the efficiency of investment  policy.

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