Russian companies interested in Armenian economy

PanARMENIAN.Net - "Armenia and Russia lived side by side at all times. The treaty on friendship and cooperation concluded between Armenia and Russia 10 years ago has become a logical continuation of our centuries-old relations which cover all spheres," Armenian Ambassador to Russia Armens Smbatian said.



"Presently, 800 joint ventures function in Armenia. Major companies like Russian Aluminum, RAO UES of Russia, Gazprom, VympelTelecom, VTB, Federal Atomic Energy Agency have entered Armenia," he noted.



"Formerly, Russian businessmen used to say, "We should help Armenia." Now the leading Russian companies are interested in Armenian economy. They are encouraged by the liberal tax system and internal stability," the diplomat said.



He also reminded that several Armenian enterprises were transferred to Russia against the state debt. "These enterprises do not function properly. However, we discussed the issue with the Russian leadership and concluded that the enterprises should find private investors. The agreement between Gazprom and Armrosgazprom on restoration of the 5th power-generating unit can serve as an example," Armen Smbatian said in an interview with Nezavisimaya Gazeta.