The government is considering at least two options for engagement of potential investments. This is what Prime Minister of Armenia Nikol Pashinyan said during the year-end meeting of the American Chamber of Commerce in Armenia today.
“The first option is when the potential investor has a specific program and wants to implement that program in the country. The second option is when the potential investor has the desire to make an investment and is seeking a place to make that investment. Unfortunately, I can’t say that the government has solved this problem, but we are moving in those two directions. Armenia has established a foundation for national interests, the aim of which is to determine the location for potential investment programs, package and design them and have them ready as an investment proposal. We have explored and tried to understand the practices of different countries so that we know which mechanism to apply in Armenia,” Pashinyan said.
According to Pashinyan, there are still problems with the securities market. “We have the mechanism de jure, but it doesn’t function de facto. We are currently working on promoting the mechanism through state decisions. We are working on introducing state enterprises that can issue securities after passing a certain stage of development. This will take a couple of years and will require consistent efforts.”