Lydian Armenia dispute "damaging to both company and the country"

PanARMENIAN.Net - Prolonged delays in addressing the matter of Lydian Armenia's operations is economically damaging not only to the company but to the country in general, said the Armenian British Business Chamber (ABBC) in a statement.

"Today (July 9) at the National Assembly of the Republic of Armenia the ongoing issue of our member Lydian Armenia was discussed again by the head of the Economic Committee of the Parliament and the Minister of Environment," the ABBC said.

Lydian Armenia's operations have been on a hold for many months awaiting resolution.

"Such prolonged delays in addressing the matter of Lydian Armenia's operations is economically damaging not only to the company but to the country in general.

"We believe in the rule of law, fair treatment of all businesses, in professionalism and integrity."

The Chamber said companies operating in sensitive industries should comply with the highest international standards and local regulations.

"At the same time the government should provide the companies, who are in compliance, certain safeguards and guarantees to ensure their safe operations," the statement said.

"Only balanced and professional resolution of conflicts and concerns can result in the economic growth of the country and raise investor confidence. We hope this matter will find its resolution without unnecessary delays."