Armenia’s economy more competitive than others – Arsen Ghazaryan

16:51 • 05.12.14
Business

Arsen Ghazaryan, President of the Union of Manufacturers and Businessmen (Employers) of Armenia (UMB(E)A), stated at UMB(E)A’s 7th congress that Armenia’s economy is more competitive and ambitious than other economies though the country’s business environment needs improving.

“Cooperation between Armenia’s government and private sectors could set an example to the other CIS member-nations. However, if you hope for reduced black economy alone, you should not expect high economic growth. We must promote economic growth for it to be the basis for tax collection, new jobs and investments. Such an economic growth must make people come back to Armenia and run businesses here,” Mr Ghazaryan said.

Early this summer, when Premier Hovik Abrahamyan invited businessmen and proposed launching transparent business activities, Mr Ghazaryan raised the question of equality.

“My initial response was favorable: let us start transparent activities together and work in equal conditions. A business environment must be favorable for reforms to be properly perceived.”

With respect to exchange fluctuations, Mr Ghazaryan said:

“We are concerned over the developments over the past fortnight. But the vice-president of Armenia’s Central Bank stated yesterday that they have instruments to control the situation and warned against agiotage. Armenia’s president was present at the meeting, and I propose punishing those engaged in agiotage because their activities affect economic development.”

Mr Ghazaryan said that Armenia is joining the EEU, while Georgia is acceding to an Association Agreement with the EU, but the Georgian lari has shown even more serious depreciation than the Armenian dram.

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