Yeritsyan: We shall try to persuade venture capitalists to open a venture fund in Armenia

PanARMENIAN.Net - The policy offered by the Government and Central Bank of Armenia proves that there are all the necessary prerequisites for the capital market development. The Minister of Economy Nerses Yeritsyan said about it in his speech at the Conference "Market of Capitals in Armenia."



As he said, in order to promote the capital market the Government of Armenia has already made a number of essential suggestions. In particular, it refers to the program of retirement accounts, the implementation of corporatе management principles, the implementation of science intensive economy, business incubation, as well as participation of the State in venture funds.



As Nerses Yeritsyan said, by helping the private entrеpreneur to participate in the capital market, the Government by thus will face the so-called venture risks. «We shall try to persuade venture capitalists to open a venture fund in Armenia in the next two years, Nerses Yeritsyan said. In order to start a venture fund, it is necessary to accumulate financial means in the amount of $100 mln.»



As the head of the Ministry of Economy said during the Conference, the State, in its turn, will demand transparency and openness from the market participants." It will be unreasonable if the retirement fund means do not find securities. In this case the potential market participants will not be able to practise IPO "