Foreign investors in Armenia will have equal rights with local investors under a draft law approved by the government.
At today’s cabinet meeting, the government adopted a decision stipulating that foreign investors in Armenia will enjoy equal rights with domestic investors.
Presenting the draft law “On Investments,” Deputy Minister of Economy Liliya Sirakanyan said the legislation establishes a legal framework for both local and foreign investments. According to her, it also clearly guarantees the exclusion of discrimination, Sputnik Armenia reported.
“The guarantees include the free movement and conversion of capital and property, ownership and other property rights over land, guarantees for hiring employees, dispute resolution mechanisms, access to justice and more,” Sirakanyan emphasized.
According to the deputy minister, foreign investors will thus have rights, freedoms and obligations equal to those of local investors, as well as a most-favored treatment regime.
“This will ensure a simpler, more transparent, stable, and predictable environment,” she added.
The draft legislative amendments have been submitted to the National Assembly for further discussion.
