Foreign investments won’t come to a country on their own, hard work is necessary to achieve this goal, finance minister Vardan Aramyan said on the sidelines of 2017 spring meetings of the World Bank Group and the International Monetary Fund in Washington, D.C.

According to the minister, such events are wonderful platforms for telling potential investors about the investment climate in Armenia.

After carrying out reforms, he said, it is necessary to make sure that everyone outside the country is aware of the changes made, Voice of America reports.

The minister said he took part in a round-table discussion, organized by Merrill Lynch and attended by major investors.

Besides the economic atmosphere and the advantages a country can offer, assessments by the World Bank and the IMF are important criteria too, which European and U.S. investors take into account, Aramyan added.

Armenia’s gross domestic product (GDP) amounted to some AMD 5.05 trillion in 2016, up by just 0.2% against the previous year. According to the national statistical service, a 4.7% growth was registered in Q1, 2.6% in Q2, while Q3 and Q4 saw a significant decline - 2.6% and 1%, respectively.

The state budget of 2016, however, stipulated a 2.2% GDP growth.