Armenia needs active Diaspora investments  -  economist  

18:08 • 19.09.17



The president of Armenia’s Union of Manufacturers and Businessmen on Wednesday called upon Diaspora-Armenian entrapreneurs to actively invest in the country’s economy to assist in the development of its more vulnerable sectors.


Speaking at a debate held on the sidelines of the Sixth Armenia-Diaspora Conference, Arsen Ghazaryan called the guests' attention particularly to the government privileges offered to foreign investors.


“The interest rate for profitability is really high here. [Investments are encouraged] not only because the labor force isn’t expensive and the energy resources are relatively cheap, but also because we are a transitional economy,” he said.


Addressing the advantages and disadvantages of Eurasian integration, Ghazaryan noted that Armenia’s accession to economic bloc (Eurasian Economic Union) coincided with the international sanctions against Russia. But he said there is a normally functioning market today allowing the economic cooperation to develop. “The EEU membership now appears the very factor giving me the moral right to persuade you to bring [your investments] to Armenia,” he added.


The economist also urged the the Diaspora-Armenians to launch their own business projects in the country. “We have absolutely no problem with sales; we face problems when it comes to the manufacturing volumes. If we are able to bring considerable money to the reprocessing industries, we will manage to increase the production. We have vast export-related privileges, yet there aren’t any goods to export,” he said, highlighting at the same the potentials of the Russian, European and eastern markets.  


“It is now time to treat us as a platform offering serious services on the regional level. It is time to also attract big companies to come here,” Ghazaryan added.

 

 

 

Liana Arakelyan





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