AMERIA CONSULTING COMPANY REVEALS CHANGES IN CONCESSION LAW IN ARMENIA
ARKA
March 31, 2008
YEREVAN, March 31. /ARKA/. "Ameria" consulting company revealed a
number of changes in concession-regulating law in Armenia.
"Ameria" closed joint stock company was retained by the European
Bank for Reconstruction and Development (EBRD) to study the newly
enacted laws or amendments made to the law on concession that had
impact on the respective field in the country, the press service of
the company reported.
Particularly, the EBRD requested Gide Loyrette Nouel (GLN) to prepare
an update to the Concession Assessment Report of 2005 in respect of
the concession laws in the EBRD countries.
The GLN and the EBRD invited "Ameria" to participate in preparing
an updated report for Armenia on any amendments to the laws or
any new legislation regarding concessions enacted since 2005. The
remarks provided were thoroughly considered and incorporated in the
questionnaire presentation as agreed with EBRD.
The main laws under study were the Law "On Foreign Investments"
(1994), Law "On provision (concession) of mineral resources (entrails)
for prospecting and mining the purpose of exploiting" (November 2002,
in force from April 2003), Law "On state procurement" (August 2000),
law "On privatization" (February 1998), Water Code (October 2002),
certain sections of general legislation such as the Civil Code, Law
"On Budgetary System" (for aspects such as government support and
financial securities).
"The thorough research run by the Ameria Legal team revealed few
changes in the legal framework governing concession in Armenia. Some
of those were the amendment introduced to the mining legislation (RA
Law On Concession of Subsurface for Purposes of Mineral Prospecting
and Mining), adoption of decision No. 1497-N on Priority Measures to
Reform the Area of Railway Transport, etc.," the report says.
Ameria is a group of professional services companies registered in
Armenia with the objective to provide a comprehensive package of
professional advisory and assurance services. Ameria specializes
in four major areas of professional activities: management advisory
services; assurance and advisory services; legal advisory services;
investment banking. Established in 1998, the company has become
a leader in the Armenian market of advisory services bringing an
international reach and local touch to complex issues rising in more
than 30 industry sectors.