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March 29
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Prime Minister Niikol Pashinyan believes the decline of foreign investments is one of the major issues of the government and says it can be solved through functioning of an independent judiciary.

“Yesterday the government discussed the issue of investments in the field of technologies and learned that there is major potential in this field, yet the biggest obstacle is the level of protection of intellectual property in Armenia, and the problem is related to the judiciary,” Nikol Pashinyan declared in parliament today.

In response to a question from deputy of the Prosperous Armenia Party Mikayel Melkumyan, who asked how is it that there are no investments in Armenia, if Armenia is developing, the Prime Minister said the people who had made investments are taking their money and leaving on the background of the fight against corruption.

“I’ll bring up the example of a foreign investment that was sensational and successful and led to the construction of the Golden Palace Hotel in Armenia, and I don’t know, I think Gonzalo Sanchez Higuain had come to Armenia to make investments, and later it became clear that the property, at least with regard to the city of Tsaghkadzor, is owned by the Republic of Armenia and has been seized as property obtained through corruption. Since everyone has realized that the fight against corruption is going to be serious, those people are taking their money from Armenia,” he said.

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