Wednesday, March 6 2024 12:47

ArmInfo.Armenia's Premier Nikol Pashinyan told Egyptian businessmen about Armenia's investment  potential. 

According to Pashinyan, from 2019 to 2023. Armenia is among the top  ten countries in the world in terms of economic growth rates. And  this despite the instability and problems in the region and in the  world as a whole. Thus, over the past 6 years, tax revenues from the  state budget of Armenia have increased by approximately 92%, and by  the end of this year the figure will more than double.

According to the prime minister, potential investors may be  interested in government capital programs.  "The Armenian government  is now making about $1 billion in capital investments in various  sectors, which is a very large and high figure for Armenia, which has  more than doubled over the past six years," he said.

According to him, the RA authorities have plans to support potential  investors, including those participating in procurement. An economic  modernization program is being implemented, where, for example,  construction companies can purchase quality construction equipment,  vehicles and production equipment with the help of government  subsidies.

In terms of tourism development, several large investment projects  are being implemented to create ski and winter resorts. There is also  great potential in the fields of winemaking and construction. The  latter, the Prime Minister recalled, is one of the sectors that has  ensured high growth rates of our economy in recent years. Today, 55  thousand apartments are being built in the Republic of Armenia. It is  planned to build an academic campus, as well as 15 reservoirs.

The next direction is the technology sector. There is quite a lot of  activity in the field of information technology in Armenia and this  is one of the main sectors of the economy, he noted.

"I cannot fail to mention another important sector of our economy,  which has demonstrated impressive development in recent years. We are  talking about the financial sector. The banking system of the  Republic of Armenia is demonstrating significant changes and has  shown its reliability both during the coronavirus and during the 2020  war," Pashinyan said.

According to Nikol Pashinyan, the policy of the Cabinet of Ministers  in the field of education and science is to make large investments.  "Our goal is to make the Republic of Armenia a country with a  high-tech economy and production, the main motto of which is  knowledge, a knowledge-based economy. And this knowledge-based  management should create a field where investors can invest with  confidence, confident that through their legal and fair work they  will be able to get rich and enrich the Republic of Armenia," said  Prime Minister Pashinyan.