YERITSYAN: WE SHALL TRY TO PERSUADE VENTURE CAPITALISTS TO OPEN A VENTURE FUND IN ARMENIA
PanARMENIAN.Net
27.02.2009 16:49 GMT+04:00
/PanARMENIAN.Net/ The policy offered by the Government and Central
Bank of Armenia proves that there are all the necessary prerequisites
for the capital market development. The Minister of Economy Nerses
Yeritsyan said about it in his speech at the Conference "Market of
Capitals in Armenia."
As he said, in order to promote the capital market the Government
of Armenia has already made a number of essential suggestions. In
particular, it refers to the program of retirement accounts,
the implementation of corporatе management principles, the
implementation of science intensive economy, business incubation,
as well as participation of the State in venture funds.
As Nerses Yeritsyan said, by helping the private entrеpreneur
to participate in the capital market, the Government by thus will
face the so-called venture risks. Â"We shall try to persuade venture
capitalists to open a venture fund in Armenia in the next two years,
Nerses Yeritsyan said. In order to start a venture fund, it is
necessary to accumulate financial means in the amount of $100 mln.Â"
As the head of the Ministry of Economy said during the Conference,
the State, in its turn, will demand transparency and openness from
the market participants." It will be unreasonable if the retirement
fund means do not find securities. In this case the potential market
participants will not be able to practise IPO "