ARMENIA DID NOT GIVE UP THE IDEA OF TRANSFORMING INTO REGIONAL FINANCIAL CENTER

ARKA
Feb 23, 2010

YEREVAN, February 23, /ARKA/. Armenian economy minister Nerses
Yeritsian shrugged off speculations that Armenia has given up the idea
of making a resort town of Dilijan into a regional financial center.

‘The Central Bank of Armenia is doing some relating work, but to
recover this idea we need more time and only then move ahead,’ the
minister told a Monday news conference.

The idea of making Armenia a regional financial and banking center
was first discussed during a 2008 May 24 conference in Dilijan,
attended by the president and prime minister of Armenia.

According to Yeritsian, Armenia may transform into a regional
financial center, but it must first enforce sweeping reforms in
pension, insurance and corporate management sectors.

‘If we manage to attract several economic sectors to the capital market
this and next year, we would have a ground to return to this idea,’
he said.

From: Emil Lazarian | Ararat NewsPress