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TAX AND FISCAL SECTOR PROBLEMS HAMPER INVESTMENTS IN ARMENIA'S CAPITAL MARKET
YEREVAN, April 22. / ARKA /. Robert von Rekowski, an independent
member of Ameriabank's Board of Directors, says a number of technical
problems in the tax and financial sectors still prevent an increase
in foreign investments n Armenia's capital market.
Robert von Rekowski with over 23 years of experience in managing
international assets is vice president for emerging markets strategy
of Fidelity Investments. Fidelity Investments is one of the largest
companies in the financial services market managing $1.4 trillion
worth assets.
"If we talk about the obstacles hampering the development of the
capital market in Armenia from the point of view of a foreign investor,
although I do not know all the details, I know that clearer rules
of the game should be set up and some technical problems be solved,"
he said to journalists.
He said despite progress achieved in the last decade and the work done
by the Central Bank there are still obstacles to investors related
to tax regulations, specification of functions of depositaries and
establishment of cash-payment system.
Robert von Rekowski arrived in Armenia on April 19 to share his
experience and knowledge with Armenian businessmen at a discussion
organized by Ameriabank on global economic prospects and the role of
emerging markets.
Ameriabank is a universal bank providing investment, corporate and
retail banking services. It is the first investment bank in Armenia
providing since 2007 a wide range of innovative banking services. ($
1 - 416.02 drams).-0-
YEREVAN, April 22. / ARKA /. Robert von Rekowski, an independent
member of Ameriabank's Board of Directors, says a number of technical
problems in the tax and financial sectors still prevent an increase
in foreign investments n Armenia's capital market.
Robert von Rekowski with over 23 years of experience in managing
international assets is vice president for emerging markets strategy
of Fidelity Investments. Fidelity Investments is one of the largest
companies in the financial services market managing $1.4 trillion
worth assets.
"If we talk about the obstacles hampering the development of the
capital market in Armenia from the point of view of a foreign investor,
although I do not know all the details, I know that clearer rules
of the game should be set up and some technical problems be solved,"
he said to journalists.
He said despite progress achieved in the last decade and the work done
by the Central Bank there are still obstacles to investors related
to tax regulations, specification of functions of depositaries and
establishment of cash-payment system.
Robert von Rekowski arrived in Armenia on April 19 to share his
experience and knowledge with Armenian businessmen at a discussion
organized by Ameriabank on global economic prospects and the role of
emerging markets.
Ameriabank is a universal bank providing investment, corporate and
retail banking services. It is the first investment bank in Armenia
providing since 2007 a wide range of innovative banking services. ($
1 - 416.02 drams).-0-