Siranush Ghazanchyan
Armenia, as a democratic, peace-loving and democratic country with a vision of developing technology, is building a modern viable political and competitive economic system, Armenian President Vahagn Khachaturyan said at the Annual Investment Conference in Abu Dhabi.
“Our most important capital is an educated, hardworking and law-abiding society. The government, in turn, is investing in the necessary infrastructure to support technological growth. Technology centers and parks are being created, such as the COAF and TUMO Centers, which are focused on developing young talents and educating a competitive generation,” the President said.
He noted that the youth is highly interested in high technologies, artificial intelligence, robotics and innovation.
“We offer one of the most open and attractive investment environments in the region, pursuing an “open door” policy. With the development of democracy, we are continuously strengthening the fair and competitive economic environment, the rule of law and an independent judiciary in the country, which directly contributes to the reliability, protection and development of the investment environment,” Vahagn Khachaturyan said.
He emphasized that the deep and comprehensive reforms of the business environment implemented by the authorities offer favorable conditions for attracting foreign investments.
“Armenia provides legal guarantees for foreign investors, including property protection, free movement of capital and a transparent tax system. In recent years, Armenia has ranked high in international indices, in indicators such as democracy and human rights protection, uncompromising fight against corruption, economic freedom, business and investment liberalization. Armenia has bilateral investment protection agreements with more than 40 countries, including the United Arab Emirates,” the President said.
He noted that Armenia offers several Free Economic Zones, which provide favorable conditions for foreign investors. These zones offer tax benefits, simplified customs procedures, and access to regional markets.
The President emphasized that normalization of relations with neighbors is one of the main priorities of the Republic of Armenia.
“Our country remains committed to the agenda of achieving peace, an important part of which is the Crossroads of Peace project presented by the Government of the Republic of Armenia as a tool for establishing peace in the region and promoting economic ties. This initiative provides a unique opportunity for regional stability, economic development and the operation of international trade corridors,” Khachaturyan said.
“The key idea of the project is the development of communications through the repair, construction, operation of roads, railways, pipelines, communication cables and power lines and, ultimately, creating opportunities for people-to-people contacts, which is a crucial component for peace,” he noted.
“The unblocking of all regional infrastructures in the South Caucasus, based on respect for the sovereignty and territorial integrity of states, as well as the principles of equality and reciprocity, will create exceptional opportunities for the movement of goods and citizens,” the President said.
“I am confident that there is no alternative to peace in the region; moreover, the South Caucasus should become a region without closed borders, which, in turn, will contribute to the deepening of economic cooperation, the activation of people-to-people contacts, while ensuring sustainable economic growth in the entire region,” Vahagn Khachaturyan stated.
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