Investment policy
The main objectives of the state investment policy in Armenia are to improve the investment environment, improve the regulatory framework and promote investment in the economy of the Republic of Armenia, including foreign direct investment (hereinafter FDI).
Objectives
The main objective of Armenia's investment policy is to create a favorable investment and business environment, increase the transparency of the regulatory environment, disclose the country's competitive advantages, increase the size of investments, develop market infrastructure, create quality and well-paid jobs, develop human capital and, based on all this, ensure sustainable economic growth and the well-being of the population, which is in line with the priorities of the Armenian Development Strategy 2014-2025. In order to achieve these goals, the Investment Policy Concept of the Republic of Armenia and the Timetable of Activities adopted on October 8, 2015 are intended to provide solutions to the main objectives.
The Government of the Republic of Armenia will adhere to the principles of the “Open Doors” policy, liberalization of investment activity, reservation of national treatment and most favorable treatment of foreign investors, adequate protection of investors and other progressive international practices.
The main law regulating the investment sector in Armenia is the Law “On Foreign Investment”, which was adopted in 1994.
The main principles of the RA's investment policy are:
- Application of liberal principles of economic activity in the investment area
- Maintaining the attractiveness and stability of the legislation regulating investments
- Maintaining equal, non-discriminatory economic conditions for foreign and domestic investors
- Granting national treatment and most-favored-nation treatment to foreign investors and investments
- Maintaining the protection of the legitimate interests of investors and investments
The main objectives of the investment policy of the Russian Federation are to maintain stable economic growth and raise the standard of living of the population by increasing economic activity, increasing the volume of investment and creating a favorable investment climate.
To create a favorable investment climate and increase the volume of foreign and domestic investments, special importance is attached to the problem of overcoming bureaucratic obstacles in the investment climate.
Stimulation of investments, the presence of their significant volumes in the economy has been and remains the determining factor for maintaining reasonable rates and volumes of economic development of the RA.
With the aim of improving the investment environment and stimulating investment, the RA Government aims to implement a number of key steps, which are as follows:
In order to prevent the uneven regional development of the country and stimulation of investments in the regions, targeted measures - development of economic infrastructures, relations and communications, application of the effective system of stimulation and support - will be carried out. At the same time, the development and implementation of complex regional development programs will continue.
Steps will be taken to significantly change the structure of the country's competitive advantages, taking into account modern trends in foreign direct investment, such as a gradual increase in investment volumes in science-intensive industries, where the role of the availability of natural resources and cheap labor should gradually decrease, and at the same time create key “created assets” such as qualified personnel, scientific and technical structures, infrastructure development. Special attention is paid to the development of communication and information technologies and their wide application. Today, these technologies are one of the basic strategic directions of state development policy.
- Realization of a more targeted and active cooperation with the diaspora by creating a reliable and favorable environment for both sides.
- Forming an insurance system that meets world standards with the aim of protecting investments from potential investment risks.