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ARMENIA STANDS OUT FOR ITS POLICY IN PROTECTION OF FOREIGN INVESTORS
17:43, 24 October, 2013
YEREVAN, OCTOBER 24, ARMENPRESS: Armenia stands out in the region
from the other countries of the CIS for its capacity to cooperate
with the foreign investors. Statistics show that in the policy of
protection of foreign investors, fewer legal proceedings have been
instituted against the Government of the Republic of Armenia than
against Azerbaijan or Georgia. In a conversation with Armenpress the
Managing Partner of the law firm GPartners Sargis Grigoryan stated:
"There were only two legal proceedings instituted against Armenia's
Government.
While Georgia, Azerbaijan and Ukraine have to face with 3-5 cases
annually. It is encouraging that the Government of the Republic of
Armenia tries to solve the disputes with the foreign investors via
negotiations and does not let the case come to court. This approach
the Government has adopted is beneficial for the both sides."
As part of British Days in Armenia and to promote the British-Armenian
business relations, the British Embassy to Yerevan hosted a Conference
on Protecting Investment Flows between the UK and Armenia conducted
by the world-known London-based Freshfields Law Firm. The event
supported by the Armenian-British Business Chamber (ABBC) was a big
success with local businesses, state authorities and international
investors' present and showing big interest and involvement into
the topic. Jonathan Aves, the British Ambassador to Armenia, said:
"London is the place to go for international legal services. It is
great to see a firm of the caliber of Freshfields in Yerevan. I am
sure this event will encourage closer business links between Britain
and Armenia." The Embassy is planning more activities in the near
future on further promoting trade and commercial relations between
the UK and Armenia.
"The elimination or reduction of political risks attract the foreign
investors; notwithstanding, in Armenia it has not entered the stage,
the foreign investor expects for. According to the Freshfields
Law Firm, the legal norms regulating the field are far from their
implementation, which has more artificial character. That is, the
business has the ability to function, but lacks opportunities", -
said Sargis Grigoryan.
The investments protection policy issues between the two countries
are regulated by the Armenia-UK bilateral agreement, signed in 1993.
Armenia has signed investments protection agreements with about
40 countries.
The bilateral agreements are good mechanisms for the regulation of
the possible risks and may serve as a tool for the foreign investors,
if the state system violates their rights. In case of the violation
of the investors' rights by the state, the investor has the right to
appeal to the International Court of Arbitration, which functions in
the framework of the World Bank.
Taking into account the latest developments in the foreign policy
of the Republic of Armenia, it should be noted that the protection
of the foreign investment flows should be regulated in accordance
with the international norms both in case of signing the Association
Agreement and joining the Customs Union.
http://armenpress.am/eng/news/737689/armenia-stands-out-for-its-policy-in-protection-of-foreign-investors.html
17:43, 24 October, 2013
YEREVAN, OCTOBER 24, ARMENPRESS: Armenia stands out in the region
from the other countries of the CIS for its capacity to cooperate
with the foreign investors. Statistics show that in the policy of
protection of foreign investors, fewer legal proceedings have been
instituted against the Government of the Republic of Armenia than
against Azerbaijan or Georgia. In a conversation with Armenpress the
Managing Partner of the law firm GPartners Sargis Grigoryan stated:
"There were only two legal proceedings instituted against Armenia's
Government.
While Georgia, Azerbaijan and Ukraine have to face with 3-5 cases
annually. It is encouraging that the Government of the Republic of
Armenia tries to solve the disputes with the foreign investors via
negotiations and does not let the case come to court. This approach
the Government has adopted is beneficial for the both sides."
As part of British Days in Armenia and to promote the British-Armenian
business relations, the British Embassy to Yerevan hosted a Conference
on Protecting Investment Flows between the UK and Armenia conducted
by the world-known London-based Freshfields Law Firm. The event
supported by the Armenian-British Business Chamber (ABBC) was a big
success with local businesses, state authorities and international
investors' present and showing big interest and involvement into
the topic. Jonathan Aves, the British Ambassador to Armenia, said:
"London is the place to go for international legal services. It is
great to see a firm of the caliber of Freshfields in Yerevan. I am
sure this event will encourage closer business links between Britain
and Armenia." The Embassy is planning more activities in the near
future on further promoting trade and commercial relations between
the UK and Armenia.
"The elimination or reduction of political risks attract the foreign
investors; notwithstanding, in Armenia it has not entered the stage,
the foreign investor expects for. According to the Freshfields
Law Firm, the legal norms regulating the field are far from their
implementation, which has more artificial character. That is, the
business has the ability to function, but lacks opportunities", -
said Sargis Grigoryan.
The investments protection policy issues between the two countries
are regulated by the Armenia-UK bilateral agreement, signed in 1993.
Armenia has signed investments protection agreements with about
40 countries.
The bilateral agreements are good mechanisms for the regulation of
the possible risks and may serve as a tool for the foreign investors,
if the state system violates their rights. In case of the violation
of the investors' rights by the state, the investor has the right to
appeal to the International Court of Arbitration, which functions in
the framework of the World Bank.
Taking into account the latest developments in the foreign policy
of the Republic of Armenia, it should be noted that the protection
of the foreign investment flows should be regulated in accordance
with the international norms both in case of signing the Association
Agreement and joining the Customs Union.
http://armenpress.am/eng/news/737689/armenia-stands-out-for-its-policy-in-protection-of-foreign-investors.html