InternationalBuilding on economic freedom
Published: Saturday January 17, 2009
The investment climate in Armenia received a major accolade this week in the form of the Index of Economic Freedom prepared by the Heritage Foundation and the Wall Street Journal. Armenia's economy is the 31st freest in the world, according to the index.
The report indicates that Armenia is a good place to invest. It's easy to start a business. Taxes are low. Commercial regulations are flexible and relatively simple. The banking system is well regulated. Investors can repatriate their profits.
The report does point to a need to fight corruption and strengthen property rights by reinforcing judicial independence. Elected officials in Armenia acknowledge the importance of continuing such legal and economic reforms.
Even as Armenia sets forth to build on its achievements, it remains a great place to invest. It welcomes American and Armenian-American investors with open arms. Let us embrace a renascent Armenia.
