The policy of the Armenian government aimed at developing its own institutions attracts investors. This was stated by the head of the investment company Freedom Holding Corp. Timur Turlov at the First Investment and Financial Forum in Yerevan on March 5.
He rejected the common belief that the specific geopolitical situation surrounding Armenia hinders the interest of foreign investors in Armenian securities.
"There is no specific geopolitical situation in Armenia. In fact, investors like it when a country is focused on itself rather than on some foreign policy projects to build complex relationships with neighbors. Armenia now has such a good chance to be attractive to international investors. Investors always like it when a country focuses on its internal affairs," said Turlov, whose company, under the Freedom broker Armenia brand, entered the Armenian securities market months earlier.
In addition to Armenia, the holding company, which listed on Nasdaq in 2019, operates in Kazakhstan, Uzbekistan, Kyrgyzstan, Ukraine, Germany, the United States, the United Kingdom, Cyprus, Greece, Spain, France, and the UAE.
According to Turlov, whose fortune is estimated at $2.4 billion according to Forbes, signals from the Armenian government's policy on European integration are liked by investors. "Important signals such as the desire for European integration, improving internal institutions, actively interacting with international institutions, are liked by investors," he explained.
In addition, in his opinion, Armenia has an attractive state debt rate, an attractive tax regime. "The tax regime can often be a hindrance when interest on deposits is not taxed, but securities are taxed. In Armenia, it's the other way around, which is very good for investors," he explained.
Earlier, BMG wrote that February data published by the Armenian Stock Exchange (AMX) reflected impressive growth in both the market and trading value of securities.
The volume of placement of government bonds reached an impressive level of 49.8 billion drams (about $125 million). In February, trading in government bonds exceeded 41.7 billion drams (about $104 million), which exceeded last year's results by a whopping 388%. The total number of transactions with treasury bonds reached 84.
