... the Armenian economy has undergone a major transformation during
the last fifteen years. It has progressed from a planned global scale
industry and agriculture inherited from the former Soviet Union to a
developing and prosperous small and mid-size entrepreneurship. Since
the successful stabilization of economy in the mid 1990s and the
introduction of a free trade regime the economy has experienced low
inflation and stable exchange rate. Recording a GDP average growth of
10 per cent annually, Armenian economy with its liberal investment
legislation has become very attractive for foreign investments.
Moreover, today the banking system of the country also undergoes a
boost and creates favorable conditions for business activity. It is
worthwhile mentioning that foreign direct investments and aid aimed at
offset of trade imbalance also play a significant role in Armenian
economy and support the growth and development in the country. Leading
commercial enterprises and joint ventures have already gained solid
reputation, which allows to establish trade links worldwide and promote
the export of Armenian products.