The Armenian market is no longer 3 million people – it’s a shared market of 170 million in the Eurasian Economic Union, Armenian President, Serzh Sargsyan, said in an interview with Dubai newspaper Gulf DailyNews.
According to him, the beginning of his presidential term coincided with a difficult period in Armenian economy.
“First, we wanted to give impetus to export-oriented sectors of the economy. To make that a reality, we have made significant advances in improving Armenia’s business climate and re-energised dialogue tracks with the private sector. What matters most – and this has been our main narrative in the past decade – is to create a conducive environment for the knowledge-based economy, including the IT sector,” he said.
Armenian president noted that GDP per capita in Armenia is comparable to any of our neighbours as “our macroeconomic situation is stable, and the prosperity of our people is increasing step by step.”
The inflation rate for the last three years was about 2%, said Sargsyan.
“As a small country, we have the advantage that we work individually with every single large investor that arrives in our country. We furnish investors with privileges and tax breaks when their new enterprises produce goods that have not been produced here before. Any investment in Armenia is safe and protected,” he said.
Country’s location is another of Armenia’s advantages, especially for investors from the UAE, said Sargsyan adding that Armenia “has an opportunity to provide this market with the best agricultural goods – meat, vegetables and other foods.
According to him, Armenia has all qualities to be an attractive destination for tourists.
“First, there is no visa requirement for UAE nationals, and the language issue is easily addressed and resolved. The country has a rich historical and cultural heritage and fascinating nature, as well as mild weather all year round. We have already established the necessary infrastructure and there are numerous ways for tourists to enjoy themselves – everything is available. Both Yerevan and Armenia in general are extremely safe,” Sargsyan concluded.
