The National Assembly of Armenia has adopted in the first reading a new law "On Investments", which should change the rules of the game in the market. The document applies to both local and foreign investors, creating uniform legal conditions for all participants.
The law enshrines the principle of non-discrimination: foreign investors receive the same rights and obligations as local ones, as well as equal conditions among themselves. This refers to the so-called national treatment and most-favored-nation treatment, which are widely used in international practice.
In addition, the document introduces guarantees for the protection of investments, the free movement of capital and transparent dispute resolution mechanisms. It is important that even if the legislation changes, investors will retain protection of their investments for another five years, which should increase confidence in the country's investment environment.
