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It`s safe now to do business in Armenia, assures Armenian Minister

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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. 


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