ARMENIA NEEDS BETTER INVESTMENT ATTRACTIVENESS INDICES

ARKA
Jan 19, 2009

YEREVAN, January 19. /ARKA/. This year Armenia must improve its
investment attractiveness indices, said Gagik Minasyan, Chairman of the
Standing Commission for Financial and Budgetary Affairs, RA Parliament.

"Armenia has managed to show the highest investment attractiveness
indices in the Commonwealth of Independent States (CIS), which is a
serious achievement, which must be consistently developed this year,"
he told a press conference.

According to the Index of Economic Freedom 2009 released by the
Heritage Foundation, USA, Armenia ranks 31st among 183 countries,
its index being 69.9%.

"We must improve Armenia’s economic attractiveness for not only
foreign investors, but also domestic ones, to invest in the country’s
economy. The reduction of the shadow economy and creation of equal
conditions for competition will be a priority this year," Minasyan
said.

According to him, the Armenian economy has encountered serious
hindrances to development for many year because of communication
problems and the unsettled Nagorno-Karabakh conflict. Minasyan pointed
out that the index registered by the international agencies is the
result of many years of hard work.

He believes that the construction of a highway to connect Meghri
(Armenia) and Bavra (Georgia) as well as of the Iran-Armenia railway
will allow Armenia to improve its investment attractiveness.

Th e construction of the Meghri-Bavra highway is to get under way
this year.

The construction project for the Iran-Armenia railway is to be launched
in 2010.

From: Emil Lazarian | Ararat NewsPress