Nikol Pashinyan instructs to develop mechanisms for investors to  fully fulfill their obligations

ArmInfo. During 2022, the demand for privatized state property increased significantly. This was announced to Prime Minister Nikol Pashinyan at the State Property  Management Committee on February 7 during the presentation of a  report on the activities of the department for 2022.

In particular, as officials noted, last year of state-owned property  worth 20 billion 700 million drams were sold. Private investors  undertook to implement investment projects worth 84 billion drams  within a clear timeframe. Currently, 25 real estates are subject to  privatization, this number may increase during the year.

It was reported that 11 billion drams were collected and paid to the  state budget for leased state property in 2022, which is 200% more  than in 2021. Measures were also taken to place state departments in  state- owned premises, which promises savings of more than 300  million drams to the budget in the coming years.

The Committee also spoke about the systemic reforms being carried out  in the industry. In particular, a new system for monitoring and  evaluating the financial and economic condition of commercial  organizations with state participation has been introduced, the  process of leasing premises for state needs has been regulated,  control over the efficiency of the use of state property has been  carried out, a simplified procedure for the transfer of movable  property between state bodies has been introduced, a sports and  concert complex reorganized into a CJSC, amendments were made to the  Land Code. Reforms were also carried out in the areas of gratuitous  use of state property, control over the fulfillment of investment  obligations, and leasing state property.

Summing up, Prime Minister Pashinyan instructed to develop a separate  platform, which will provide complete information on all state-owned  property subject to privatization. Nikol Pashinyan stressed the use  of such regulations and mechanisms that will ensure the full  fulfillment of all obligations assumed by investors who have acquired  state property, in accordance with the established schedule. <We need  to be flexible in this area. Particular attention should be paid to  capital investments and the content of the project in the process of  privatization. Our long-term goal is for the privatized enterprise to  work, pay taxes and develop>, the Prime Minister said.