Pan Armenian News

T. DAVTYAN: FOREIGN INVESTMENT GROWTH AVAILABLE IN ARMENIA

20.09.2005 02:51

/PanARMENIAN.Net/ Deputy Minister of Trade and Economic Development of
Armenia Tigran Davtyan held a seminar on Foreign Investments in Armenia in
Yerevan September 19. Three basic subjects were discussed at the event: the
role of foreign investments in Armenia, trends of free investment field and
improvement of the investment field. T. Davtyan specifically noted the
growth dynamics of foreign investments in the Armenian economy, cited some
examples of large investment programs. He also distinguished 5 fields of
foreign capital investment: Zvartnots International Airport, mining
metallurgy, telecommunications, food industry and information technologies.
T. Davtyan noted that foreign investors are exempt from taxes as different
from Armenian ones. However, in his words, starting with 2007 the tax
legislation will apply to both Armenian and foreign investors.
Simultaneously he noted that most likely taxation will not stop foreign
investors, who wish to invest in the Armenian economy. In Mr. Davtyan’s
words, the growth of foreign investment in science is especially pleasant.