Armenia is staunch advocate for smart investments, deputy PM says in UAE

YEREVAN, MARCH 30, ARMENPRESS. Deputy Prime Minister of Armenia Hambardzum Matevosyan participated on March 29 in the Annual Investment Meeting 2022 in Dubai, the United Arab Emirates, his Office said.

While delivering remarks at the event, the deputy PM presented the Armenian government’s policy of “open doors” for investments. He said this conference will allow to reveal the whole potential and the policy directed to smart investments of the participating states.

“The government of Armenia assumed a commitment to build a science-based, export-directed and inclusive economy. On this path we promote the inflow of foreign investments which push forward innovation, generate knowledge and technologies, contributing to the overall upgrading of the economy”, the deputy PM said, assuring that the government remains committed to the policy of “open doors” and ensuring transparent, fair and beneficial environment for foreign investments.

He also said that the government continues the reforms directed to the investment climate and the public services, proposing to foreign investors predictable and competitive business environment, with strong protection guarantees in accordance with the best international standards.

“In addition to general economic reforms, Armenia is also actively diversifying its economy, giving priority to those areas which create broad investment opportunities. For example, the impressive progress of Armenia’s information technologies industry boosted the revolutionary industries, including the biotechnologies and agrotechnologies. The prospering IT industry has not only become an engine for stable growth, but also an exemplary model for other countries”, he said, proposing the foreign entrepreneurs also to consider Armenia for their successful business initiatives. The deputy PM also presented the Enterprise Armenia agency, created by the government for boosting investments.

As for the COVID-19-related consequences and challenges, the deputy PM assured that Armenia’s investment environment is well positioned for the post-Covid world. “As the pandemic is gradually receding, we expect growth in investments from different countries. Our investment specialists are ready to help, the government in its turn will come up with new initiatives, by creating a favorable legislation for the business aimed at attracting investments from the whole world. I repeat, we are staunch advocates for small investments, and the great opportunities are ahead”, he said, calling on investors to take action.