Armenia in need of large investor for economic breakthrough
02.11.2015,
12:20
Macroeconomic things in Armenia are not bad, but the country needs a large investor for an economic breakthrough, Natalya Volchkova, New Economic School
Policy Director at Center for Economic and Financial Research, told ARKA News Agency's correspondent.
Policy Director at Center for Economic and Financial Research, told ARKA News Agency's correspondent.
YEREVAN, November 2. /ARKA/. Macroeconomic things in Armenia are not bad, but the country needs a large investor for an economic breakthrough, Natalya Volchkova, New Economic School Policy Director at Center for Economic and Financial Research, told ARKA News Agency's correspondent.
«Armenia has the necessary foundations for that – high-qualified specialists, good business environment indicators and liberal trade conditions,» she said.
Volchkova said that although it is a difficult, but quite feasible matter to search for an investor. She pointed out Costa Rica's experience as an example – the country attracted Intel's investments and built up its economy several times over five years.
«Investments in Costa Rica were made in logistics, while in Armenia this can be engineering industry,» she said. «In any case, this may be an area which gives room for diversification and for building up productivity.»
Volchkova added that this would propel the added value that is the key criterion today at the global market.
Therefore, she said, it is necessary to search for an investor among international companies, maybe in China or Singapore, since chances to find investors in Europe are few.
«But to attract investors, the state should invest a great deal in human capital – education,» she said. «Armenia surely has the future, but it should be shaped correctly.»
According to official reports, GDP in Armenia is projected at 4.1% for 2015 and inflation at 4% (±1.5%).
In the WB and the IFC Doing Business 2016, Armenia is ranked 35th among 189 countries.---0----
«Armenia has the necessary foundations for that – high-qualified specialists, good business environment indicators and liberal trade conditions,» she said.
Volchkova said that although it is a difficult, but quite feasible matter to search for an investor. She pointed out Costa Rica's experience as an example – the country attracted Intel's investments and built up its economy several times over five years.
«Investments in Costa Rica were made in logistics, while in Armenia this can be engineering industry,» she said. «In any case, this may be an area which gives room for diversification and for building up productivity.»
Volchkova added that this would propel the added value that is the key criterion today at the global market.
Therefore, she said, it is necessary to search for an investor among international companies, maybe in China or Singapore, since chances to find investors in Europe are few.
«But to attract investors, the state should invest a great deal in human capital – education,» she said. «Armenia surely has the future, but it should be shaped correctly.»
According to official reports, GDP in Armenia is projected at 4.1% for 2015 and inflation at 4% (±1.5%).
In the WB and the IFC Doing Business 2016, Armenia is ranked 35th among 189 countries.---0----
