Minister Papoyan led the SME Development Sub-Council Meeting

Under the leadership of RA Minister of Economy Gevorg Papoyan, the latest session of the SME Sub-Council convened on April 3, bringing forth significant discussions and initiatives aimed at fostering economic growth and investment opportunities in Armenia.

Hovsep Patvakanyan, the Head of the Investment Council of Armenia, presented a comprehensive report on the progress made in implementing directives from the previous session. 

One of the key highlights of the session was the deliberation on addressing the financial challenges encountered by investors when changing the land's purpose. It was acknowledged that the immediate payment of the discrepancy in cadastral values often poses a considerable financial burden. Consequently, discussions centered on the feasibility of deferring such payments to alleviate the financial strain on potential investors, thereby facilitating smoother transitions during the initial stages of investment.

 Investment Council of Armenia is implemented by the EBRD in collaboration with the UK Government’s Good Governance Fund.