ARMENIAN PREMIERE INSTRUCTS CABINET MEMBERS TO HELP PUSH THROUGH PARLIAMENT BILL GRANTING RESIDENCE PERMIT TO FOREIGN INVESTORS
YEREVAN, February 13. / ARKA /. Armenian prime minister Tigran Sargsyan
instructed his ministers today to accelerate the passage of amendments
to a procedure granting residence permits to foreign investors through
the parliament .
Speaking at a Cabinet session he said many other countries apply this
incentive to attract investors. He said in Armenia a residence permit
can be granted to a foreigner buying a property here worth $100,000
and more or investing that much into economy.
He said the government had long submitted a corresponding bill to
parliament, but the document was not discussed yet there.
According to the National Statistical Service, total foreign investment
in Armenia’s real economy sector in the first 9 months of 2013 slashed
by almost 32 percent from the year before to $395.6 million. Foreign
direct investments plunged by 62.1 percent to $155.1 million.
The leading foreign investor in January-September last year was
Argentina- $89.7 million – an increase of 6.1 times. Other major
foreign investors were Cyprus, Russia, Canada and France. -0-
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From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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