AZG Armenian Daily #107, 11/06/2005

Cooperation

DUTCH GOVERNMENT TO SUPPORT ITS BUSINESSMEN IN ARMENIA

Armenia and Netherlands signed two documents yesterday. The first one is a
memorandum of mutual understanding within the framework of cooperation
projects and the second one – an agreement to encourage and secure
investments.

Vartan Khachatrian, RA minister of finances and economy, shared with the
contents of the documents as soon as they were signed. He pointed out that
the government of the Netherlands has been continuously supporting Armenia
with different grants since 1998. It promised previously that money allotted
to the Armenian budged will amount to 1.3 million euros, Holland assigned
far greater sum – 4.7 million euros.

According to the new document, the Dutch government will lend support to
those businessmen of the country who will decide to start business in
Armenia. Each shared business will receive 5 thousand euros; annually there
will be 3 such common business projects. Seeing this as an important aspect,
Dutch minister of economic development Mrs. Van Arden noted that Armenia
simply needs investments to set the wheels in motion. The minister said that
her country has suchlike agreements with 32 states. She also stated that the
Dutch government has decided to increase the aid to Armenian budget raising
it from 4.7 to 5 million euros.

Deputy prime minister and minister of finances of Holland, Herit Zal, shared
with his impressions of Armenia and said that this was his third visit.
First time he was in Armenia in 1995 and says that the country has palpably
developed during those 10 years.

By Ara Martirosian