Time in Yerevan: 11:07:36,   23 July

Armenia can offer investors access to markets with 800 million consumers

YEREVAN, SEPTEMBER 20, ARMENPRESS. Armenia can offer investors and businessmen an access to markets with at least 800 million consumers, Vache Gabrielyan – Vice Prime Minister, Minister of International Economic Integration and Reforms, said while presenting the results of discussion on ‘Armenia’s development issues’ within the frames of the 6th Armenia-Diaspora forum on September 20, reports Armenpress.

He said under the forum the economic issues were discussed at four major directions – economic development and investments, boosting Armenia’s tourism as an effective way for presenting the history and culture, as well as the economic field, the Diaspora’s business and professional network opportunities and promotion of Armenia-Diaspora economic cooperation.

“During the abovementioned session 22 participants presented main reports and over two dozen participants presented adjacent reports”, he said.

The Vice PM noted that during the session entitled ‘Armenia’s economic development and invetments’ the economy’s attractive sides were presented, as well as reference was made to the upcoming steps.

“In particular, it was mentioned that Armenia has been historically at the crossroads of all major trade routes and has always been active in the international trade. At the same time, we also can provide opportunity to investors and businessmen, offer them access to markets with at least 800 million consumers given both the membership to the Eurasian Economic Union, close ties with Iran, and concrete trade privileged regimes with the EU and the US”, Vache Gabrielyan said.

He informed that the sessions focused also on the quality of the country’s labor force, as well as the great works that are necessary for improving the education level and preparing more qualified specialists. “In addition, there was also a discussion on business environment, its existing achievements and problems that need to be solved”, he said.

The discussions during the sessions mainly focused on the following issues: Diaspora’s potential for investors, investment programs and opportunities in Armenia, the Armenian legislation, the existing privileges for small and medium business and the export advantages to the EAEU-EU-other markets, and etc.

“During the sessions proposals were made to find different solutions to issues hindering the development of favorable business environment in Armenia. The opportunities of Armenian businessmen for carrying out activity in transboundary markets were also discussed, the continuous facilitation of the public administration, the state assistance and the role of the financial system were also touched upon”, the Vice PM said.

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