Small and medium businesses’ interests ill-protected in Armenia

Small and medium businesses’ interests ill-protected in Armenia


YEREVAN, February 28. /ARKA/. Protection of small and mid-scale businesses’ interests is insufficient in Armenia, Stepan Aslanyan, chairman of the Armenian Union of Small Entrepreneurs, said Friday at a news conference.  

“Today small business representatives face difficulties in Armenia, since their rights and interests are not protected properly,” he said answering ARKA News Agency’s question. “As a result, large entrepreneurs swallow small businesses and our businessmen leave the country for better conditions.”

Aslanyan said that the Armenian law is favorable for SME development, but there is no particular agency controlling observance of the law.  

“I find it necessary to establish effective trade unions for protecting small and medium businesses’ rights,” he said. “Besides, I propose to exempt them from taxes temporarily to let them accomplish.”

Aslanyan also pointed out the necessity of creation of industrial parks for uniting businessmen. He stressed that small and mid-scale businesses should be protected from large companies, since they can’t compete with them. 

“Foreign investments are needed, foreign companies’ presence in Armenia is welcomed as well in all areas but trade,” he said. “Trade is the only area where foreign companies strike hard at local small and medium entrepreneurs.” -0----

17:45 28.02.2014

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