Doing business in Armenia Description: The main principles of investment policy of RA are: The basic purposes of investment policy of RA are: maintenance of stable economic growth and increase of a living standard of the population by means of increase of economic activity, increase in volumes of investments and creation of a favorable investment climate. For formation of the favorable investment environment and increase in volumes of foreign and internal investments special importance is given to the problem of overcoming of bureaucratic obstacles in the investment environment. Stimulation of investments, presence of their significant volumes in economy was and remains the determinative for maintenance of comprehensible rates and volumes of economic development of RA. With the purpose of improvement of the investment environment and stimulation of investments, the Government of RA aspires to carry out some primary steps what the following are: In order to prevent unequal regional development of the country and stimulation of investments in regions targeted measures - development of economic infrastructures, relations and communications, application of effective system of stimulation and assistance - are carried out. At the same time the development and realization of complex programs of regional development will be continued. Steps are taken for an essential change of structure of competitive advantages of the country taking into account modern tendencies of direct foreign investments, such as progressive increase in investment volumes in science intensive branches where the role of presence of natural resources and a cheap labor should gradually decrease and at the same time there should be decisive “created actives” such as qualified personnel, scientific and technical structures, development of infrastructures. A special attention is attached to the development of communicative and information technologies and their wide application. Now these technologies are one of the basic strategic directions of the policy of state development.Realization of more directed and active cooperation with Diaspora by means of formations of mutually reliable and favorable environment.Formation of an insurance system corresponding to the world standards with the purpose of investment protection from possible investment risks. Source: The Ministry of Economy of the Republic of Armenia |