President invited a meeting on the process of implementation of the Armenian Jurisdiction Program

Today, the President of Armenia held a meeting on the process of implementation of the Armenian Jurisdiction Program functioning under the Presidential oversight and on its forthcoming activities. The meeting was attended by the members of the Program Council. At the beginning, President Sargsyan spoke about the issues facing the Counicl and priorities of their activities.

“I believe the time has come for us to engage in Armenia’s development more actively international companies, various experts, gifted individuals as well as to participate more substantially in the international division of labor. To make Armenia more attractive for international businesses, we need to give a new impetus to the reforms which regulate judicial, financial, and taxation areas, to become more vigourous in improving our business climate which will allow to boost in the forseeable future the advancement of our country and the reforms.

You are aware that on November 30, I validated the legislative package adopted by the National Assembly, according to which Armenia has liberalized the movement in and out of the country for legal persons.

To create favorable jurisdiction of the Republic of Armenia, on November 26, 2016 I signed a decree to create this Council; the principle provisions of the program developed by you were approved by the Government of the Republic of Armenia. In fact, the Council of the Armenian Jurisdiction is holding today its first full-fledged meeting. I trust, the objectives are well known to us all. I am confident that we need to study more thoroughly the international experience, and considering Armenia’s attractviness, advantages, capacities of our people and first of all our young and talented experts as well as the Armenians’ standing in the world, we need to create the true picture of the Republic of Armenia and establish favorable jurisdiction for legal persons and companies. I am confident that Armenia’s membership to the Eurasian Economic Union has a great role to play on this, as well as Armenia’s daily growing participation in different programs of the Euoropean Union. However, I would like to stress once again that the position adopted by us, that is the fight with the illegal money laundering, intolerance towards the financing of the criminal activities, fight against fiscal piracy and assistance to the international efforts aimed at making the financial area more transparent remain unaltered. Along with Armenia’s development this is the most important thing for us at the moment. We will not be inventing anything new; we will be working based on our laws and will be working for the advancement of our country,” said President Sargsyan.

The members of the Council of the Armenian Jurisdiction Program reported to the President of Armenia on the process of implementation of the tasks assigned by the President’s decree. It was noted that in the specified timeframe along with provisions of the Armenian Jurisdiction Program presented for the discussions and approval of the RA Government, based on the Government’s decision created was also the Armenian Jurisdiction Fund. The registration process for the Fund is currently getting to its conclusion. Among forthcoming events, the members of the Council highlighted the establishment by the aforementioned Fund of a company which will receive authorization stipulated by the legislation of the Republic of Armenia. Thus, the base for the Program’s activities will be institutionalized.

In accordance with the decree of the President of Armenia, the report on the process of implementation of the Armenian Jurisdiction Program will be presented to the President every three months.