Strategic prospects for using international experience of foreign investment in Armenia

Abstract

The article analyzes the strategic prospects for creating stable conditions for attracting additional volumes of foreign investment in the Armenian economy, which is due to the lack of own funds for sustainable social and economic development. The relevance of issues related to the role and place of foreign investment in Armenia, occurring due to the globalization of the world and regional economy, creating or limiting conditions for the movement of capital, has increased sharply in light of the sharp intensification of the policy of attracting foreign investment in the South Caucasus region. The practical experience of the transition period of the market economy of Armenia is summarized, as the country became more dependent on the level of regional and global integration. At this time, flows of foreign capital emerged not only in the form of government borrowings, but also in the form of diaspora transfers, assistance from international organizations, and the creation of joint ventures with Armenian entrepreneurs. Restrictions on obtaining high technologies, both in the form of goods and technical documentation, and in the form of direct investment, were gradually lifted.

Keywords

• investment policy
• investment landscape
• sustainable economic development
• ‘open door’ policy
• Armenia
• government debt