Armenia’s Minister of Finance Atom Janjughazyan today met with the delegation led by Senior Minister of Singapore and Coordinating Minister for Social Policies Tharman Shanmugaratnam.

Minister Janjughazyan presented the steps targeted at the ensuring of macroeconomic stability and effective debt management in Armenia, the principles of applying tax-budgetary rules and the activities aimed at creating a favorable business environment and favorable conditions for engaging investments.

In his turn, Tharman Shanmugaratnam presented Singapore’s progressive tax-budgetary system, the principles of the value-based policy in the sectors of education, healthcare and other sectors, as well as the role of conservative approaches in public administration.

On July 8, Armenia and Singapore signed an agreement on excluding double tax, which will help shape a predictable tax field for the investors of both countries, promote the reciprocal investment flows between the two countries and intensify trade and economic ties. For this purpose, the Ministry of Finance of Armenia has launched procedures provided for by Armenian legislation to ratify the agreement, after which the agreement will be submitted to the National Assembly of Armenia for ratification.