Armenia’s economy has reached a stage of stabilization and reforms which makes it attractive to US investors, US Ambassador to Armenia Richard Mills said online in response to citizens’ questions about his comments on US President Barack Obama’s statement that the historic level of US investment in Armenia in 2015 is just the beginning of expanded trade and investment ties and about practical steps and US companies interested in investments in Armenia.
The US president’s comments reflect the priorities of the US administration and embassy in Armenia – promoting US investments and trade. Last year saw important developments, including the Vorotan hydroelectric system deal, the largest one-time US investment in Armenia. Armenia and the US signed a framework trade and investment agreement, which is supposed to help the two governments to remove obstacles to bilateral trade, Mr Mills said.
Ambassador Mills said he believes that the lifting of international sanctions against Iran could be a good opportunity for the United States to expand its business relations with the Islamic Republic.
He added that the Embassy’s objective to attract more investment runs parallel with their partners’ efforts towards reducing corruption in Armenia. The diplomat further highlighted the importance of ensuring equal conditions for all businesses (whether Armenian, Russian or other), adding that they can attract investments to help cut corruption risk in support to the domestic entrepreneurs.