14:56,

YEREVAN, JULY 22, ARMENPRESS. A roadmap for investment reforms aimed at promoting new investments, improving the investment environment and creating favorable climate for foreign investors in Armenia has been developed.

The roadmap was developed based on best international experience. It was presented by the USAID Armenia Business Enabling Environment Project to Minister of Economy Vahan Kerobyan on July 22.

Mission Director of USAID/Armenia John Allelo said that the document embodies “the best international approach and standards” adapted to the conditions of Armenia. It is an action plan.

“This roadmap can serve as a guideline which will direct foreign direct investments to Armenia,” Allelo said, expressing readiness to help Armenia in implementing the initiative.

The document was developed with joint efforts from Armenian and international experts.

Allelo said they’ve seen big progress in Armenia in the area, and that the Armenia Business Enabling Environment Project was launched in 2020 to address any emerging issues.

Minister of Economy Vahan Kerobyan said investment reforms have a very important place in the government’s economic reforms agenda.

“I believe that the presented proposals are really in line with the economic realities of our country and the government’s priorities. The government’s expectations from this document are big. And its successful implementation will give tangible results by ensuring the targeted figures outlined in the government’s 2021-2026 action plan,” Kerobyan said.

He said that Armenian and foreign businesses must be informed that thanks to several serious changes and new approaches doing business in Armenia is becoming easier and safer, procedures are simplified, and making investments here will be justified and profitable, while the legislative framework is regulated and administration is simple and fair.

“Investments and doing business in Armenia is encouraged by the government by all means,” he concluded.