“Armenia is favorable for foreign investments only in the formal aspect but realistically indeed not,” told our reporter the former minister of economy, former chair of the Armenian Association of Banks Armen Yeghiazaryan. “Today the businessmen are trying to integrate with the government to insure their businesses and the ones that succeed in that have privileges. The surveys show that big enterprises in Armenia have good conditions; medium business have a little worse conditions but the small businesses face the worst conditions. It means that the closer you are standing to the government the bigger your business is and in better conditions you work,” he mentioned by not hiding that the merging of businesses with the government had started during the years of his tenure – 1993-1995. “At that time this was a new phenomenon. It wasn’t as bad as in the past but the base was set back then.”
