It`s safe now to do business in Armenia, assures Armenian Minister
The unevenness of the territorial development of Armenia is a matter of national security and one of the priorities of the new government. Minister of Territorial Administration and Development of the Republic of Armenia Suren Papikyan made a statement at the business forum on economic development of border regions of Armenia organized by the Union of Armenians of Russia.
According to him, about 56% of the gross domestic product (GDP) of Armenia is produced mostly in Yerevan. The Minister, thus, pointed to the need to strengthen the economic differentiation of the border areas of the Republic.
The Armenian delegation headed by Suren Papikyan arrived in Moscow for a two-day visit to participate in the business forum. The delegation included deputy ministers of financial and economic departments of Armenia, Deputy Defense Minister of Armenia, as well as a representative of the United Nations Development Program in Armenia.
During the forum, the minister urged Russian businessmen to make a personal contribution to the development of the Armenian economy, promising to potential investors full security of investments and wide tax preferences, namely exemption from payment of almost all taxes. The preferential tax regime will operate exclusively for investments in the border regions, in particular in the Tavush region: "It is already safe to do business in Armenia," the minister assured.
The minister welcomed the initiative of the Union of Armenians of Russia, pointing out the relevance of the forum topics: "The discussion turned out to be interesting for both sides". During the forum, businessmen shared their own vision of the situation, told about the problems of legislation regulating investment activity, and other obstacles that determine the inefficiency of investments. The Minister, for his part, expressed readiness to meet personally with each interested person and discuss the implementation of various investment projects.