UNPREDICTABILITY OF ARMENIA’S CUSTOMS SERVICE HINDERS ATTRACTING U.S.
INVESTMENTS: AMBASSADOR
YEREVAN, June 14. /ARKA/. U.S. ambassador to Armenia, John Heffern
said today the unpredictability of Armenia’s customs authorities is a
great obstacle to attracting U.S. investment to the country. When
speaking today at a gathering organized to look into competition
challenges.
he said U.S. companies emphasize the rule of law.
He said many Americans implemented various assistance programs in
Armenia, including restoration of monuments and churches, but today
the investment activity is not great.
“If the business environment in Armenia is made more favorable,
American companies will make large investment in this country,” he
said.
Total U.S. investments in Armenia in January-March 2012 amounted to
more than $ 4.1 million, a 56% percent decline from a year earlier. Of
that amount direct investment made more than $1.6 million, a decline
of 79.6%. M.M. -0-
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