Armenia should pursue more active policy to attract foreign investments, Manuk Hergnyan
YEREVAN, September 30. / ARKA /. Armenia should pursue a more active policy to attract foreign investments, according to Manuk Hergnyan, head of Economy and Values think tank in Yerevan.
Speaking to a news conference today Hergnyan said an investment forum Armenia 2016 slated for 2016 September in New York, USA, is expected to encourage foreign investments into the Armenian economy.
The forum is a joint effort of the Armenian government and the Asian Development Bank (ADB) with the support from Ameria and Pragma advisory firms. The organizational issues are being handled by Armenia Development Fund.
"The process of investment attraction consists of two components- creation of an enabling environment for foreign investments and active measures such as holding such forums,' said Hergnyan. He said the actions to attract investments should become more rapid and large-scale.
According to Sevak Hovhannisyan, an expert of the think tank, in terms of certain factors Armenia has serious competitive advantages, and everything depends on the type of investment.
"If our goal is to attract investments to serve the Eurasian Economic Union markets, it is necessary to compare the investment environment of Armenia with the investment environments in these countries, and here we have a significant advantage –namely the simplicity of business processes, rapid registration of companies, the quality of workforce and a flexible labor legislation,’ he said.
According to official data, the total inflow of foreign investment into the real sector of the Armenian economy (net flows resulting from the difference between the net inflows and outflows of foreign investment) in the first six months of 2015 amounted to 81.9 billion drams (about $171.5 million), an increase of 6% or 4.7 billion drams compared to the same period last year. -0-
Speaking to a news conference today Hergnyan said an investment forum Armenia 2016 slated for 2016 September in New York, USA, is expected to encourage foreign investments into the Armenian economy.
The forum is a joint effort of the Armenian government and the Asian Development Bank (ADB) with the support from Ameria and Pragma advisory firms. The organizational issues are being handled by Armenia Development Fund.
"The process of investment attraction consists of two components- creation of an enabling environment for foreign investments and active measures such as holding such forums,' said Hergnyan. He said the actions to attract investments should become more rapid and large-scale.
According to Sevak Hovhannisyan, an expert of the think tank, in terms of certain factors Armenia has serious competitive advantages, and everything depends on the type of investment.
"If our goal is to attract investments to serve the Eurasian Economic Union markets, it is necessary to compare the investment environment of Armenia with the investment environments in these countries, and here we have a significant advantage –namely the simplicity of business processes, rapid registration of companies, the quality of workforce and a flexible labor legislation,’ he said.
According to official data, the total inflow of foreign investment into the real sector of the Armenian economy (net flows resulting from the difference between the net inflows and outflows of foreign investment) in the first six months of 2015 amounted to 81.9 billion drams (about $171.5 million), an increase of 6% or 4.7 billion drams compared to the same period last year. -0-