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Armenia Moving Toward Becoming Financial Powerhouse

Armen Hareyan's picture

The idea of turning Armenia into a financial and banking center should be our guide for the nearest years, President Serzh Sarkisian stated today.

Mediamax reports that Serzh Sarkisian said this during the first financial-banking conference, organized by the Union of Banks of Armenia (UBA), which took place in Dilijan today.

“From now on, we should not compare the development speeds of the Armenian financial system to the indices of the countries of the region, but should find out to what extend we approached the world trends”, the President noted.

Serzh Sarkisian stressed the importance of OMX Group’s presence in the republic, noting that this brand-named exchange operator will help the formation of a competitive financial market in Armenia, meeting the international standards.

According to the President, the banking system should become a locomotive of Armenia’s economy.

Serzh Sarkisian highlighted the necessity to establish trust relations in the financial sphere.

“Trust relations should be spread in all the spheres of business. Time will come and the factor of trust will be stronger than the factor of legal norms in the relations between sides”, the President stated.

He also stressed the importance of even territorial development in Armenia, noting that the citizens of the country should feel economic growth on themselves.

“We will take up all the necessary legislative and political measures to reach the goals set”, Serzh Sarkisian stated, adding that the authorities are ready to consider proposals from participants of the financial market.

Source: By Mediamax

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