Tigran Sargsyan: U.S. to invest in Vorotan Cascade

Decisions and laws adopted in our country should not endanger the interests of investors, Prime Minister Tigran Sargsyan said at the concluding press conference today.

“The government should give investors stable guarantees, especially in spheres regulated by the government. I want to make it clear that the matter concerns not only Russian investments, but any foreign investment. In this connection I would like to say that we recently signed an agreement with our American partners who expressed their willingness to implement investment programs in Vorotan Hydropower Cascade. I consider it an extremely important investment program for our country. We need to understand that these are vital spheres for our country, especially the energy sector,” the prime minister stated.

In his words, any country intending to implement an investment project in Armenia wants to get clear guarantees.

As regards the Armenian-Russian gas agreements’ provision, under which “no future laws, decrees, decisions and other legal acts of the Republic of Armenia shall change and/or cancel and/or otherwise infringe upon the rights and interests of Gazprom OJSC, ArmRosGazprom CJSC and their legal successors” and the concern that it may harm the country’s sovereignty, the prime minister said:

“Armenia should create a reliable environment for investments. There is no danger for our sovereignty here. There is a danger for sovereignty when the authorities fail to create favorable conditions for investment”.

According to him, the government managed to raise the index of investment profitability, assuming an obligation to ensure a stable environment for investments.