NAGORNO-KARABAKH GOVERNMENT APPROVED INVESTMENT POLICY CONCEPTION

DE FACTO
2008-07-16 15:00:00

On July 15 Nagorno-Karabakh Republic government approved investment
policy conception.

According to the information DE FACTO received at the NKR
government’s press office, the conception is targeted at revealing
Nagorno-Karabakh’s competitive advantages, drawing investments to
the Republic to ensure its economic development.

Benik Babayan, NKR Minister of Economic Development, stated that last
year the amount of investments calculated per capita had made $210
and $250 – in 2008 in Nagorno-Karabakh. In his words, it is a very
low index, which should be sharply raised.

Ara Harutyunian, NKR PM, positively estimated the conception noting
it would enable investors and citizens intending to participate in
economic processes to get their bearings. In his words, Armenia’s
banks open their branches in Nagorno-Karabakh, and there is hope
that local bank capital would not be directed outside NKR’s borders,
but for the realization of programs in the Republic.

Armo Tsaturian, vice Premier, NKR Minister of Agriculture, stated
that grain crops’ harvest in the amount of about 65, 000 tons was
expected current year. At the same time the Minister expressed concern
in connection with impossibility of carrying out reaping on the area
of 200 hectares situated near Martakert, because of aimed fires from
Azeri pa rty. In the course of the sitting it was mentioned that NKR
MoD would undertake requisite measures.