EBRD ready to boost Armenia’s investment climate

PanARMENIAN.Net - Armenian government has recently made significant efforts to boost investment climate of the country, Managing Director of European Bank for Reconstruction and Development (EBRD) for Turkey, Eastern Europe, Caucasus and Central Asia said.

In this context, Olivier Descamps noted that EBRD implemented about 21 programs at total amount of USD 125 mln. in 2011.

“The bank is a leading institutional investor in private sector, with our investments growing with every passing year,” he told a press conference on March 7.

According to him, improvement of investment climate in the country boosts investment flow in the country, particularly establishment of solid legislative field, tax and customs administration, creation of equal opportunities for competition.

EBRD official further noted expansion of powers of the Republic of Armenia State Commission for the Protection of Economic Competition (SCPEC), facilitation of business registration procedures in the country, and ways to “ensure better protection for representatives of small and medium enterprises” among the steps to be taken to boost investment climate.

Olivier Descamps further noted EBRD readiness to cooperate with Armenian government to take consistent steps in that direction.

High-ranking representatives of the European Bank for Reconstruction and Development (EBRD) are currently on visit to Armenia to get an update on Armenian economy and expected role that EBRD can play in the country.