INVESTMENT ACTIVITY’S LEGISLATIVE BASES TO BE IMPROVED BY
ARMENIA-RUSSIA INTERPARLIAMENTARY COMMISSION’S DECISION

YEREVAN, OCTOBER 19, NOYAN TAPAN. The 13th sitting of the
Armenia-Russia Interparliamentary Commission was held on October 19 at
the RA National Assembly. Issues related to investment activity’s legal
and organization ensurance, as well as parliaments’ assistance to
preparation and holding of events dedicated to the 20th anniversary of
Spitak earthquake next year were on the agenda. The Commission
Co-chairs, RA NA Vice-Speaker Vahan Hovhannisian and member of RF
Federal Assembly’s Federation Council Nikolay Rizhkov summed up the
discussions at a press conference held after the sitting.

As V. Hovhannisian mentioned, investment activity’s legislative bases
are attached a special importance because Russian capital "starts
invading, penetrating into Armenian market more and more." According to
him, proposals formed as a result of discussions in the
Interparliamentary Commission will be submitted to the respective
governmental structures. He also said that Armenian legislation creates
rather favorable conditions for foreign investments by giving investors
a number of serious privileges, therefore, it is necessary that "proper
conditions be created by Russian party as well, for Armenian capital
also to be able to make investments in Russia having prospects by the
parity principle." It was also mentioned that prospects of nuclear
energy, railways development were also spoken about.

In N. Rizhkov’s words, according to the 13th sitting’s decision, it is
envisaged to increase two countries’ trade circulation to 1bn USD
against current 800m USD, therefore some work should be also done to
make legislative field more favorable.

In connection with relaunching of a number of Armenian enterprises
handed over to Russia for the debt, N. Rizhkov expressed an opinion
that in spite of some improvement, nevertheless there are some things
to do, and probably, it will be expedient to dedicate one of the
Interparliamentary Commission’s upcoming sittings to that issue’s
discussion. V. Hovhannisian said in this connection that the Armenian
party has proposed Russia privatizing the above mentioned enterprises,
but "Russian legislation is limited in this issue yet, Russia cannot
operate factories being outside the country and having military
importance as military factories just because the factories are out of
its immediate control."

From: Emil Lazarian | Ararat NewsPress