ARMENIA IS RATHER ATTRACTIVE COUNTRY FOR INVESTMENTS, ARLEX INTERNATIONAL’S DIRECTOR AFFIRMS

Noyan Tapan News Agency, Armenia
Oct 17 2005

YEREVAN, OCTOBER 17, NOYAN TAPAN. The cooperation of South Caucasian
businessmen and trade among the countries to some extent can contribute
to the solution of conflicts existing in the region. US Ambassador
Extraordinary and Plenipotentiary to RA John Evans declared this at
the “Common Future” regional forum organized by the American Chamber
of Commerce in Armenia. J.Evans also noted that the governments
should also assist the development of business contacts in the
region. According to the US ambassador, first of all it’s necessary to
have “fair” courts for attracting foreign investments and development
of business in Armenia and the reforms carried out in the judicical
sphere of Armenia can promote development of business.

In the affirmation of RA NA Speaker Artur Baghdasarian, Armenia
still needs to attract foreign investments and the state must form an
atmosphere of mutual confidence in the sphere of economy. According to
him, the legislative field of Armenian economy is almost completely
formed and favorable conditions are created for free economic
relations. A.Baghdasarian also noted that a continual struggle against
corruption must be carried out for development of business.

In the opinion of Tomas Samuelian, Director of the Arlex International
legal-consultative organization, a simple legal field must be created
for development of business and attraction of foreign investments in
Armenia. Besides, according to him, Armenia’s complicated tax system,
in particular, superfluous bureaucratism, still hampers attraction
of foreign investments. According to T.Samuelian, it’s easy enough
to implement activity in Armenia if we exclude some bureaucratic
difficulties and in difference to a number of countries, no patronage
of the authorities is necessary here.

Armenia is rather an attractive country for investments and, in
particular, the Armenian culture, as well as international recognition
by means of the Spyurk contribute to it.