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.