PM introduced to Investment Support Center’s activities

24 February, 2020

Prime Minister Nikol Pashinyan today called at the Investment Support Center (ISC) of the Ministry of Economy.

Accompanied by Minister of Economy Tigran Khachatryan and ISC Director Levon Ohanesyan, the Prime Minister first toured the Center to get acquainted with its activities. The Premier next chaired a consultation, during which he was briefed on the efforts aimed at supporting investments.

Addressing those present, the Head of Government said, “For a while now, we have been discussing the possibility of using support mechanisms and formulas in a bid to promote inbound investments, including the mechanisms to assist potential investors. Such institutions and mechanisms were in place in the past as well, but our task is to make them more effective. Our decisions should eventually show their viability in practice. We reorganized the Center for SME Development into this Investment Support Center, and today we are going to see the development concept drafted by our colleagues from the Center and exchange views on the steps to take ahead,” the Premier said.

ISC Director Levon Ohanesyan reported that the Center is providing comprehensive assistance to those local and foreign businessmen intending to invest in Armenia in a number of areas. In particular, the Center provides information about Armenia’s investment opportunities and conditions, including the applicable privileges and other procedures. ISC representatives attend investors all the way through the investment process. They provide consultation about the resources necessary for making investment, including information on landed and other real estate, alienated state-owned property, co-funding sources, and local partners. Potential investors are offered investment projects that meet their interests. Operational responsiveness is ensured during the investment process.

Different stages of assisting foreign investors, the FAQs and assistance tools were presented during the exchange of views that followed. It was reported that the Center also provides support to Armenian business entities on the way to external sales markets. In particular, business forums and exhibitions are organized for Armenian entrepreneurs operating abroad.

Nikol Pashinyan stressed the need for providing complete information to potential investors. He tasked those responsible to submit proposals and a roadmap for implementing the planned projects more purposefully.

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