Investment in Armenia is quite promising - Pashinyan
22.11.2019,
11:16
Armenian Prime Minister Nikol Pashinyan, who is paying an official visit to Italy, spoke Thursday at an Armenian-Italian business forum, referred to as “Armenia, New Reality: Platform to Eurasian Market,” co-hosted by the Embassy of the Republic of Armenia in Italy, the Italian Trade Agency, as well as Assolombarda and Mediobanca investment companies, the press office of the Armenian government reports.
YEREVAN, November 22. /ARKA/. Armenian Prime Minister Nikol Pashinyan, who is paying an official visit to Italy, spoke Thursday at an Armenian-Italian business forum, referred to as “Armenia, New Reality: Platform to Eurasian Market,” co-hosted by the Embassy of the Republic of Armenia in Italy, the Italian Trade Agency, as well as Assolombarda and Mediobanca investment companies,the press office of the Armenian government reports.
"If you ask me why you should invest in Armenia, my answer will be the following: investing in a small country with global networks and skilled labor force is quite promising," he said.
In his words, the Armenian government aims at introducing technological education, developing soft skills, and helping students to identify their aptitude, through investing in primary, vocational and higher education.
"Armenia provides an excellent opportunity for investors in high tech industry and specifically in information technologies," he said.
Banking, tourism, agriculture, manufacturing, renewable and textile are also attractive for foreign investment.
"It is a particular pleasure to inform you that recently Armenia has been included in Booking.com’s top 10 trending destinations for 2020," Nikol Pashinyan said. "In addition, in 2019, Armenia improved its position by 5 points in the Tourism Competitiveness Index presented by the World Economic Forum.
By the way, according to the result of the first ten months of 2019, we have already 14% growth in tourism. From January, 2020, Ryanair is starting direct flights from Milan and Rome to Yerevan.
Our government implements an open-door policy towards foreign investments, providing for the full property ownership."
The Armenian premier said foreign investors can have unimpeded access to any sector with no restriction for personnel recruitment, free and unlimited repatriation of profits, unlimited currency exchange on market rates, and guarantees against nationalization.
With regard to international economic relations, Armenia has bilateral treaties on investment promotion and protection with 43 countries including the United State.
"Armenia is a member of the International Centre for Settlement of Investment Disputes. We have treaties on avoidance of double taxation and the prevention of fiscal evasion with 46 countries. This means that the investors of contracting parties are granted a number of guarantees inclusive of national treatment, protection from expropriation, free transfer of means and full protection and security," Nikol Pashinyan said.
He also remembered that according to the World Bank, Armenia is ranked 47th among 190 countries at ease of doing business. By ease of starting business, Armenia is the 10th and by registering a property is the 13th in the world. According to the Index of Economic Freedom, Armenia is the 47th in the world.
"I promise and guarantee as the prime minister of Armenia that in all those directions Armenia will continue to improve its performance," Pashinyan said. -0--
"If you ask me why you should invest in Armenia, my answer will be the following: investing in a small country with global networks and skilled labor force is quite promising," he said.
In his words, the Armenian government aims at introducing technological education, developing soft skills, and helping students to identify their aptitude, through investing in primary, vocational and higher education.
"Armenia provides an excellent opportunity for investors in high tech industry and specifically in information technologies," he said.
Banking, tourism, agriculture, manufacturing, renewable and textile are also attractive for foreign investment.
"It is a particular pleasure to inform you that recently Armenia has been included in Booking.com’s top 10 trending destinations for 2020," Nikol Pashinyan said. "In addition, in 2019, Armenia improved its position by 5 points in the Tourism Competitiveness Index presented by the World Economic Forum.
By the way, according to the result of the first ten months of 2019, we have already 14% growth in tourism. From January, 2020, Ryanair is starting direct flights from Milan and Rome to Yerevan.
Our government implements an open-door policy towards foreign investments, providing for the full property ownership."
The Armenian premier said foreign investors can have unimpeded access to any sector with no restriction for personnel recruitment, free and unlimited repatriation of profits, unlimited currency exchange on market rates, and guarantees against nationalization.
With regard to international economic relations, Armenia has bilateral treaties on investment promotion and protection with 43 countries including the United State.
"Armenia is a member of the International Centre for Settlement of Investment Disputes. We have treaties on avoidance of double taxation and the prevention of fiscal evasion with 46 countries. This means that the investors of contracting parties are granted a number of guarantees inclusive of national treatment, protection from expropriation, free transfer of means and full protection and security," Nikol Pashinyan said.
He also remembered that according to the World Bank, Armenia is ranked 47th among 190 countries at ease of doing business. By ease of starting business, Armenia is the 10th and by registering a property is the 13th in the world. According to the Index of Economic Freedom, Armenia is the 47th in the world.
"I promise and guarantee as the prime minister of Armenia that in all those directions Armenia will continue to improve its performance," Pashinyan said. -0--
