PM invites Swiss investors to do business in Armenia

PanARMENIAN.Net - Trade turnover between Armenia and Switzerland grew by 3.5 times in 2017 against the previous year, prime minister Karen Karapetyan said at a meeting with Swiss businessmen in Zurich.

Karapetyan is in Switzerland to participate in the World Economic Forum in Davos.

“I have a simple and honest message for you: come do business and make investments in Armenia,” the prime minister said.

“We have launched significant reforms in public administration, tax, customs and educational sectors, we are improving the business environment to foster local entrepreneurship and foreign investments. We are also revamping the tourism sector and services.”

Karapetyan says Armenia’s GDP growth for 2017 is expected to hit around 7%.

“This is contributed by a 12.3% growth in industry (January-November 2017 against the same period of 2016), as well as a 14.4% increase in trade turnover and 14.2% growth in services, excluding trade,” he said.

The prime minister cited agriculture and wine-making, IT and hi-tech, tourism, pharmaceuticals, infrastructure development, energy and mining, jewelry, watch-making and many more as sectors, suitable for foreign investment in Armenia.

“Armenia is small in size but your market through Armenia is much larger. Armenia is a member of the Eurasian Economic Union, forming part of a common market and economic block with a population of over 180 million,” he said.

“We border with Iran with a population of more than 80 million inhabitants, and with which Armenia has positive neighboring relations. Recently, on the border with Iran, we established the Meghri Free Economic Zone.

“Plus the European Union with an over 500 million population, with which Armenia has just signed a Comprehensive and Enhanced Partnership Agreement (CEPA) on top of benefiting from the GSP+ system with the EU.”