YEREVAN, JULY 8, ARMENPRESS. The official visit of the Armenian Prime Minister Nikol Pashinyan to Singapore continues. Pashinyan and his delegation met on July 8 with the representatives of Singapore Business Federation.

As ARMENPRESS was informed from the Office of the Prime Minister of Armenia, greeting the guests, CEO of Singapore Business Federation Ho Meng Kit highlighted the meeting with the Armenian PM and governmental delegation. According to him, it's a good opportunity for developing the business relations between Armenia and Singapore, giving new impetus to them and initiating joint projects. He noted that the businessmen of Singapore are interested in launching activities in different spheres in Armenia and are ready to get acquainted with the investment opportunities of Armenia and discuss cooperation opportunities. Ho Meng Kit noted that the FTA to be signed between the Eurasian Economic Union and Singapore is also a good opportunity for deepening business relations and Armenia can be a good platform for entering the markets of 3rd countries.

PM Pashinyan noted that he is glad to be hosted at Singapore Business Federation and discuss issues of developing economic relations. ''Our political relations are on a high level. I hope they will further strengthen following my visit and economic cooperation will also activate. Armenia is in the process of economic transformations and we continuously make efforts to record economic growth and to establish favorable conditions for doing business”, PM Pashinyan said. The Armenian Prime Minister talked about the reforms initiated by the Government aimed at improving tax and customs administrations, as well as judicial reforms aimed at creating guarantees for protecting foreign investments. Nikol Pashinyan noted that the velvet revolution of 2018 and the radical political changes in Armenia have not caused any economic shocks, the banking system continues operating normally and no cases on redistributing of property have occurred, which is conditioned by the non-violent and peaceful nature of the developments.

PM Pashinyan presented the macro-economic indexes of the last months, noting that they record continues growth and referred to the spheres where there is potential for cooperation – IT, air communication, tourism, infrastructures and so on. “Singapore’s development path and the great experience are interesting for Armenia and can be useful in our future reforms. We are interested in exchange of experience and implementation of joint investment projects”, Nikol Pashinyan said.

Afterwards, Minister of High-Tech Industry Hakob Arshakyan presented the potential of Armenia’s IT sector, development tendencies and cooperation opportunities, while Senior Advisor to the Prime Minister Arsen Gasparyan talked about the potentials of Armenia in other economic directions.

The representatives of Singapore Business Federation thanked PM Pashinyan and his delegation for providing them detailed information about investment opportunities and noted that they are interested in investing in Armenia. They plan to visit Armenia in the near future and get acquainted with the opportunities

PM Pashinyan also informed that the annual conference of World Congress on Information Technology will take place in Armenia in October and invited the representatives of the IT sector of Singapore to participate in that important conference. CEO of Singapore Business Federation Ho Meng Kit said that he will convey the invitation to the leadership of the relevant federation of Singapore.

Edited and translated by Tigran Sirekanyan