The first and important principle in the concept paper on Armenia’s investment policy is an “open door” policy. This is what RA Minister of Economy Karen Tchshmarityan said during a press conference following a government session this morning as he presented the Concept Paper on the Investment Policy approved by the government, reports Panorama.am.

The minister said there is an “open door” policy, but it hadn’t been documented.

According to the minister, the main goal of the investment policy is to create a favorable environment for business and investments, raise the level of transparency in the regulating environment, identify the country’s competitive advantages, increase the amounts of investments being made in Armenia, enhance the market infrastructure, create jobs providing high quality and well-paid jobs, develop human capital, as well as ensure stable economic growth and the people’s welfare on the basis of the above mentioned.

Tchshmarityan said the government attaches importance to the promotion of investments in the private sector as the main guarantee for solving the problems and achieving the goals that have been set.

The minister informed that the concept paper must focus on four main areas that have an impact on the investment policy in one way or another. The first, according to him, is the trade policy, meaning the implementation of activities aimed at making trade more simplified and lifting the bans, as well as the implementation of a targeted trade policy.

The second area is the ensuring of competition, the creation and maintenance of a competitive environment, respect for the principles of competition and evasion of unnecessary restrictions. The third area is the policy on taxation, and the fourth is the so-called ��?green development approach’.

“This is the most attractive sector for investments and serves as an impetus, especially for innovations,” said Tchshmarityan.

The minister also mentioned that the government will also encourage Diaspora Armenian businessmen with the special conditions stated in the concept paper.

“The government will create a favorable environment to encourage Diaspora Armenians,” Tchshmarityan mentioned.

When asked if the government believes that Armenia will see the growth of investments with this concept paper, the minister replied that if the government didn’t have hope that the document would help increase investments, then it wouldn’t have done anything and wouldn’t have approved any concept paper.

“This isn’t a problem that can be solved with one concept paper or by one government agency. This is a matter of the general environment,” Tchshmarityan underscored, adding that with this concept paper the government will also create mechanisms to respond to investors’ concerns and complaints.