Armenia’s government still doesn’t know what obstacles there are for investments and how to neutralize the negative impact on the growth of those investments. This is what President of the Union of Manufacturers and Businessmen of Armenia Gagik Makaryan said during an April 23 press conference.

According to him, the absence of investments entails the absence of a stock market in Armenia, and the whole financial market is in the hands of banks. “If the authorities want to reduce shadow economy, they have to undertake reforms in order to do business in a healthy environment,” the analyst stated.

According to him, what is also important is the modernization of the education sector since an economic revolution will be impossible without that.

Gagik Makaryan believes Armenia must also take advantage of its diplomatic opportunities from the perspective of the enhancement of trade and economic ties under the new conditions.