ARMENIA IS A GOOD FIELD FOR INVESTMENTS, CHAIRMAN OF CHRONIMET COMPANY SAYS

Noyan Tapan

Se p 17, 2008

YEREVAN, SEPTEMBER 17, NOYAN TAPAN. Receiving the delegation headed by
the chairman of Chronimet company (Germany), Honorary Consul of Armenia
in the German state of Baden-Wurttemberg Gunther Pilarsky on September
17, Armenian President Serzh Sargsyan welcomed the fact that each visit
of this businessman to Armenia is accompanied by new projects. "We
welcome any new unsertaking, we always encourage investments, and our
purpose is to create such a legislative and business environment that
will be equally favorable for all investors," he said.

G. Pilarsky spoke in detail about the operation of Zangezur Copper
and Molybdenum Enterprise, the planned investment programs for its
development, in particular, construction of a copper-smelting works
in Kajaran, and the modernization of other subenterprises. S. Sargsyan
expressed a positive opinion about these initiatives, noting that any
modernization makes the operation of an enterprise much more effective
for the staff, its owner and the state. Considering socioeconomic
development and enlivening the life of Armenian marzes (regions)
as a priority of the government, S. Sargsyan said that such programs
enable to create jobs and solve some social problems.

Noting that Armenia is a good field for investments, G. Pilarsky
said that a group of German businessmen arrived in Armenia together
with him, and they are now discussing with Armenian businessmen
the opportunities of making investments in various branches of the
Armenian economy.