We need to create a free, competitive and fair business environment, Prime Minister of Armenia Karen Karapetyan said in an interview with fdiintelligence.com.

''We are confident that our nation’s potential for creativeness and business acumen would allow our businesses to grow really fast in such an environment. In addition, if we send clear signals, then foreign investors would respond to that as well and would enter our market if they are comfortable with the rules of the game,'' he noted.

According to Karapetyan, considering the current economic condition of Armenia, the authorities will stimulate the businesses, perhaps not in a very conventional way for the government. Funds will be created that will be providing financing to different sectors, for example, the agriculture sector, IT, SMEs, etc, he noted.

In the PM's words, FDI is extremely important to Armenia, not only because it will affect economic growth and bring in more investments, but also because it will bring in a new management culture, this certainly having a positive multiplying effect on other areas of our life, such as tourism. 

''When it comes to privatisation, I think Armenia is one of the most liberal countries among the post-Soviet countries. There is really very little state property. However, I am confident that private management is always better than public. It reduces corruption risks, increases efficiency, etc. Therefore, our intention is to transfer everything that has business logic, except for very specific areas such as security and defence, either through privatisation or submission for management,'' Karapetyan noted.

Armenian IT and hi-tech industry may be very attractive for investors: it has fantastic potential and opportunities, he stressed.  ''Our agriculture, jewellery, mining, light industry, energy and tourism sectors also have big potential of attracting foreign investment,'' the PM concluded.