YEREVAN. – Deputy Prime Minister Hambardzum Matevosyan of Armenia on Tuesday took part in the "Annual Investment Meeting-2022" event taking place in the United Arab Emirates (Dubai), and in his speech referred to the "open door" policy of the Armenian government developed for investors, the government informed Armenian News-NEWS.am.
Thanking the friendly country for organizing the event, the Deputy Prime Minister of Armenia emphasized that this conference will give an opportunity to unlock the full potential of the participating states and the policy aimed at promoting smart investments.
”The Government of Armenia has committed itself to building a knowledge-based, export-oriented, and inclusive economy. Along this way, we encourage inflow of foreign investments that advance innovation, generate knowledge and technology spillovers to support the overall upgrading of the economy”, Hambardzum Matevosyan said, assuring that the Armenian government remains committed to its “open-door” policy and providing transparent, fair, and beneficial environment for incoming investments.
According to the Deputy PM, understanding that promoting investment comes with great responsibilities, the Government of Armenia is making great efforts to continue reforming its investment environment and public service provision by offering foreign investors a predictable, competitive business environment with strong protection guarantees that meet international best standards.
“Besides the overarching patterns of economic reform, Armenia is actively diversifying its economy with pioneering sectors creating ample investment opportunities. For instance, the spectacular rise of Armenia’s IT sector has galvanized revolutionary industries including biotech and agritech. The booming IT industry has not only become an engine for sustained growth but also a model for other countries”, the Deputy PM said, suggesting entrepreneurs considering Armenia for their next business venture. Hambardzum Matevosyan considered the establishment of the Enterprise Armenia agency, which was highly praised by investors for its prompt, expert support, as one of the important steps taken by the Armenian government to promote investments.
Touching upon the consequences and challenges posed by the Covid-19 pandemic, the Deputy Prime Minister assured that the investment climate in Armenia is well positioned for the post-Covid world. "Since the epidemic is gradually receding, we expect an increase in investments from different countries. Our investment specialists are ready to assist, and the Government will come up with new initiatives, creating favorable legislation for business in order to attract investments from all over the world. I reiterate, we are staunch supporters of smart investments, and there are great opportunities ahead," the Deputy Prime Minister emphasized, calling on investors to hit the ground running.