IT’S HARD TO KNOW HOW MUCH MONEY GOVERNMENT OFFICIALS WILL REQUEST
Story from Lragir.am News:
15:21 11/12/2012
The first reason why foreign investments in Armenia declined is that
the sources of investments have curtailed their investment programs,
said Guillermo Tolosa, the IMF Resident Representative to Armenia,
commenting on the 35% decline in foreign investments in Armenia.
He said decline in Armenia was deeper because doing business in
Armenia is tougher than in the countries of the region. The situation
is improving but it is still difficult to do business and attract
investments to Armenia.
According to him, there are a number of problems which hinder
businesses in Armenia. There are difficulties in dealing with
public administration bodies, it is hard to know in advance how much
money the members of government and officials will request from a
businessman. Guillermo Tolosa said he means corruption risks.
As to statements by the authorities on effective fight against
corruption, he noted that Armenia will report considerable progress if
activities that are crucial to fighting this phenomenon are brought
into being. We notice that the authorities are more and more aware
that it will be brought into being. He noted that the authorities
are increasingly aware of the importance of their implementation.