Armenian premiere instructs cabinet members to help push through parliament bill granting residence permit to foreign investors
13.02.2014,
15:45
Armenian prime minister Tigran Sargsyan instructed his ministers today to accelerate the passage of amendments to a procedure granting residence permits to foreign investors through the parliament .
YEREVAN, February 13. / ARKA /. Armenian prime minister Tigran Sargsyan instructed his ministers today to accelerate the passage of amendments to a procedure granting residence permits to foreign investors through the parliament .
Speaking at a Cabinet session he said many other countries apply this incentive to attract investors. He said in Armenia a residence permit can be granted to a foreigner buying a property here worth $100,000 and more or investing that much into economy.
He said the government had long submitted a corresponding bill to parliament, but the document was not discussed yet there.
According to the National Statistical Service, total foreign investment in Armenia’s real economy sector in the first 9 months of 2013 slashed by almost 32 percent from the year before to $395.6 million. Foreign direct investments plunged by 62.1 percent to $155.1 million.
The leading foreign investor in January-September last year was Argentina- $89.7 million - an increase of 6.1 times. Other major foreign investors were Cyprus, Russia, Canada and France. -0-
