The Armenian government has started translating Armenian corporate and tax legislation into the Russian language, Economy Minister Vahan Kerobyan said at a Forbes Global Russians webinar on expansion of businesses abroad.
"This work is underway now, but we are speeding up the process so that investors from abroad, not only from Russia, but also from other countries, could also read our laws and make decisions on investment activities. I think that this is an important infrastructure, an important element for attracting foreign investment," he said.
According to Kerobyan, in March 2022, more than 1000 individual enterprises were opened in Armenia, including more than 300 by non-residents.
Speaking about the Russians who have arrived in Armenia recently, Kerobyan said that at the moment the figures fluctuate between 70,000 and 100,000 people.
"It is not quite possible to understand now how many of them are people who have relocated to Armenia to expand their businesses and how many are tourists," Kerobyan said. He said that 30,000 bank accounts were opened by non-residents over the past 50 days, ARKA reports.
