“The Voice of Business Must Always Be Heard and Considered in the Country’s Economic Policy” – Arsen Ghazaryan

The agenda of the extended meeting of the Board of the Union of Manufacturers and Businessmen of Armenia (UMBA), held on March 21, included the identification, discussion, and collection of issues to be presented by the UMBA at the economic policy workshop scheduled for April, as announced by the Prime Minister of Armenia, Nikol Pashinyan.

“According to public statements by government representatives, conceptual discussions are already underway, which may lead to amendments to Armenia’s Tax Code. Frequent changes in legislation have an adverse impact on the business environment, investments, and their attraction. In this regard, it is crucial that representatives of the Union of Manufacturers and Businessmen of Armenia, as well as sectoral public organizations, be involved in the work from the early stages of concept development,” stated UMBA President Arsen Ghazaryan.

He urged business representatives to take a proactive approach in identifying issues within their industries, conducting relevant analyses and expert evaluations, and proposing solutions to key problems. “The voice of business must always be heard and considered in the country’s economic policy, as it is the key to effective state-private sector dialogue,” added the UMBA President.

Entrepreneurs from various sectors raised a wide range of pressing issues. In particular, discussions focused on the need for reforms in investment-related legislation, issues in the application of QR tax stamps, challenges in the cadastral mapping process, taxation mechanisms for imported seeds, and problems related to the calculation of water usage fees for hydroelectric power plants, which create additional difficulties and increase financial burdens for businesses. Concerns were also raised regarding Armenia’s technological development, digital infrastructure, and cybersecurity challenges.

It was decided to systematize and document the concerns and proposals voiced during the meeting. A series of roundtable discussions on sector-specific issues will also be organized in the near future to examine existing challenges, develop practical proposals, and submit them for consideration.

“The Voice of Business Must Always Be Heard and Considered in the Country’s Economic Policy” – Arsen Ghazaryan

The agenda of the extended meeting of the Board of the Union of Manufacturers and Businessmen of Armenia (UMBA), held on March 21, included the identification, discussion, and collection of issues to be presented by the UMBA at the economic policy workshop scheduled for April, as announced by the Prime Minister of Armenia, Nikol Pashinyan.

“According to public statements by government representatives, conceptual discussions are already underway, which may lead to amendments to Armenia’s Tax Code. Frequent changes in legislation have an adverse impact on the business environment, investments, and their attraction. In this regard, it is crucial that representatives of the Union of Manufacturers and Businessmen of Armenia, as well as sectoral public organizations, be involved in the work from the early stages of concept development,” stated UMBA President Arsen Ghazaryan.

He urged business representatives to take a proactive approach in identifying issues within their industries, conducting relevant analyses and expert evaluations, and proposing solutions to key problems. “The voice of business must always be heard and considered in the country’s economic policy, as it is the key to effective state-private sector dialogue,” added the UMBA President.

Entrepreneurs from various sectors raised a wide range of pressing issues. In particular, discussions focused on the need for reforms in investment-related legislation, issues in the application of QR tax stamps, challenges in the cadastral mapping process, taxation mechanisms for imported seeds, and problems related to the calculation of water usage fees for hydroelectric power plants, which create additional difficulties and increase financial burdens for businesses. Concerns were also raised regarding Armenia’s technological development, digital infrastructure, and cybersecurity challenges.

It was decided to systematize and document the concerns and proposals voiced during the meeting. A series of roundtable discussions on sector-specific issues will also be organized in the near future to examine existing challenges, develop practical proposals, and submit them for consideration.