Armenia is Still Adjusting to New Economic Reality

The global economy is still challenging and this impacts Europe and Central Asia, where the environment is extremely challenging. Jan van Bilsen, IFC Regional Manager for the South Caucasus told about this 168.am today. “Countries in the region, including Armenia, are still adjusting to this new economic reality.”

However, more competitive sectors in Armenia, like agribusiness, mining, energy, and services, offer significant potential and can help underpin the economy while the government looks to develop higher value opportunities, as outlined in the Armenian Development Strategy.” He said.

Touching upon current economic state and its perspectives, he noted that in this fragile environment, more can be done to improve the investment climate. “The Armenia Investment Climate Reform Project, implemented by the World Bank Group’s Trade and Competitiveness Global Practice, continues to provide advice to the government on investment policy and inspections reforms. The project is built on IFC’s previous Investment Climate Reform Project (2011-2014), which helped the government of Armenia design and adopt reforms in taxes, trade logistics, inspections, and food safety.”

Complete interview may be found in tomorrow’s  print edition of “168 hours.” 

By Babken Tunyan