Acting Prime Minister Nikol Pashinyan today attended the “Investment and Trade” forum in Yerevan, which has brought together parliamentarians, ministers, entrepreneurs, presidents of chambers of commerce and industry, representatives of major companies from 20 countries.

Nikol Pashinyan praised the businessmen participating in the forum for their willingness to invest in our country: “Unfortunately, the words “corruption” and “poverty” used to be applied to Armenia, highlighting the fact that Armenia was an agrarian country. After the velvet revolution of this April-May, we set ourselves a goal to reinstate the rule of law in Armenia and make of it a country of labor and high technology. Entrepreneurs and investors are considered to be our greatest allies on this way. This is why we urge them to invest in the Republic of Armenia. We want to encourage labor and success in our country, and we tell investors to come to Armenia, get richer and enrich others,” the Acting Prime Minister said.

Nikol Pashinyan pointed out that today’s environment is conducive to investment in our country, because everyone is equal before the law in Armenia. “Major political changes have occurred in our country; the government, the system of governance and the overall atmosphere have changed, with practically no incidences of redistribution of property recorded so far. This is the main feature of our revolution, because the changes did not affect the owners of economic assets. We want the Republic of Armenia to be a unique country in the world with its development prospects and investment climate, its ability to enforce everyone’s equality before the law, provide investment and property immunity guarantees. In this regard, we hope indeed that investments will redouble in Armenia, and the first signs of it are already visible,” Nikol Pashinyan said, noting that the import of equipment and production means have recorded a two-digit increase since May.

The Acting Prime Minister emphasized that there are special procedures, regimes and other tax privileges available for importers of equipment in our country. “Customs duties and VAT may be deferred provided that the imported equipment is commissioned and new jobs are created. This is a prerequisite for partnership with all investors as part of our drive for labor encouragement.

Two days ago, in my speech at the National Assembly, I said that business skills imply a special talent and genius. Just as everyone cannot paint like the classics of painting, in the same way, not everyone can do business like the successful businessmen. I want to admit that I realize that I do not have the skills to do business, especially as prime minister. In general, I think it disastrous for a country to have its head of State engaged in business activity, involved in commercial interests. I believe it to be the first step to dismantling the business environment. So, I have good news to tell every investor: I am not going to compete with you in business.

This is the most important prerequisite for you to fully and freely implement your commercial talent in Armenia. We urge you to invest your talent in building a new economy in the New Armenia,” Nikol Pashinyan concluded.

The forum participants will have the opportunity to familiarize themselves with the business and investment environment in our country and discuss investment prospects in Armenia. The delegates will visit local companies to get acquainted with Armenia’s legislative and economic particularities.

Nikol Pashinyan then attended a working lunch with members of the Union of Businessmen and Industrialists of Armenia. Various issues related to improving the investment climate in the country, legislative regulations, tax reforms and the fight against corruption were addressed in addition to the opportunities for effective dialogue and feedback between the Government and the business community.