It is hardly possible for young people to open up businesses in Armenia, Armen Yesayan, Chairman of the Protection of Taxpayers and Businessmen NGO, told NEWS.am.

According to him, the Government does not create the necessary preconditions for young people. “The Government should grant privileges to young people under law. I assure you that, in this case, young people in the Armenian regions will stop thinking of becoming migrant workers so much,” Yesayan said.

Most young people lack initial capital, and the Government does not issue soft credits to them. “Commercial banks, state-run and privately owned credit institutions issue credits to full-fledged companies. That is young people hardly have any chance to procure he initial capital,” Yesayan said. In fact, Armenian young people do not get any help in opening up businesses, he said.

Yesayan pointed out that Armenia has no laws protecting businessmen’s rights. “Businessmen have no means of protecting their rights. Large companies are extending their influence over the Armenian market, involving serious funds and administrative resources. Many of the large companies are owned by officials, who, of course, are using their administrative potential for developing and protecting their businesses. We need legal reforms to protect small and medium-sized businesses,” Yesayan said.