At its Cabinet meeting Thursday, the government of Armenia decided to allow the State Property Management Committee to extend for one year the timeframe for the fulfillment of investment obligations undertaken by the entities as a result of alienation and use for provision of state-owned property, as well as privatization of state-owned shares.

The justification of the aforesaid decision states that the State Property Management Committee has received petitions that the entities that undertook investment commitments have submitted justifications for the impossibility—due to the spread of the coronavirus in Armenia and the 44-day Artsakh (Nagorno-Karabakh) war in the fall of 2020—of fulfilling their previously undertaken obligations, and have asked to extend the timeframes set for the fulfillment of these obligations.

And as a result of a discussion with the Prime Minister's Office, a decision was made to extend the timeframes for the obligations to be fulfilled by the entities that undertook investment commitments during the problematic period.