Armenia’s economy becoming attractive to U.S. investors: envoy

PanARMENIAN.Net - Armenia’s economy has reached a stage of stabilization which makes it attractive to the U.S. investors, the States' ambassador to Armenia Richard Mills said, according to Tert.am.

U.S. President Barack Obama has recently made a statement suggesting the historic level of U.S. investment in Armenia in 2015 is just the beginning of expanded trade and investment ties.

“The U.S. President’s comments reflect the priorities of the Obama administration and the embassy in Armenia, i.e. investments and trade,” Richard Mills noted. “Last year saw important developments in the sector, including the Vorotan hydroelectric system deal, the largest one-time U.S. investment in Armenia. The countries signed a framework trade and investment agreement, which is supposed to help both governments remove obstacles to bilateral trade.”

Ambassador Mills said he believes that the lifting of international sanctions against Iran could make Armenia a suitable platform for establishing business relations between the U.S. and the Islamic Republic.

He added that the embassy’s objective to attract more investment runs parallel with their partners’ efforts towards reducing corruption in Armenia. The diplomat further stressed the importance of ensuring equal conditions for all businesses (whether Armenian, Russian or other), necessary for attracting investments and cutting corruption risk in support to the domestic entrepreneurs.