Prime Minister Nikol Pashinyan visited the Federation of Egyptian Chambers of Commerce and Industry, where he held a meeting with local business people.

The President of the Federation, Ahmad Al-Wakili, welcomed the RA Prime Minister's visit and emphasized the importance of developing and expanding trade and economic relations between the two countries. He also said that the Egyptian side is interested in discussing the possibilities of implementing investment programs and deepening cooperation.

In their speeches, RA Deputy Minister of Economy Raphael Gevorgyan and RA Investment Support Center General Director Levon Ohanesyan referred to Armenia's economic development rate, the progress recorded in various fields in recent years, the steps and reforms towards implementing investments, and the improvement of the business environment in our country.

The Minister of Trade and Industry of Egypt, Ahmed Samir, also made a speech and emphasized the importance of realizing the great potential of developing economic cooperation between Armenia and Egypt.

In his speech, Prime Minister Nikol Pashinyan noted that Armenia's main economic characteristic is high economic growth. "Both in 2019, 2022, and 2023, we are among the top ten countries in the world in terms of economic growth. And this is despite, unfortunately, the instability and challenges in our region and globally. I assess that economic growth is ensured by the following approach and slogan of the Government when we reach out to the people and give them the following message: "Get rich and get richer."

According to the Prime Minister, over the past six years, the tax revenues of the state budget of Armenia have increased by about 92 percent, that is, almost doubled. Nikol Pashinyan expressed hope that the tax revenues of the state budget will more than double with this year's results.

"State capital programs and the public investment sector in general may be areas of interest for investors. The Government of Armenia is now making approximately $1 billion in capital investments in various sectors, a vast and high figure for Armenia, which has more than doubled over the past six years.

We also plan to support potential investors, including those participating in the purchase. For example, we have an economic modernization program through which construction companies can purchase high-quality construction equipment, vehicles, and production equipment with government subsidies.

Armenia has great tourist potential, including from the Middle East. The first is winter tourism, which is very interesting for Middle Eastern countries. In our country, there are now several big investment projects for skiing and winter resorts. That sector has been targeted, aimed at bringing tourists from the eastern market to the Republic of Armenia.

There is also great potential in winemaking. In general, we have great potential in the production and export of alcoholic beverages.

Next is the direction of construction in the private sector, which has been one of the sectors providing high growth in our economy in recent years. Currently, 55,000 apartments are under construction in the Republic of Armenia. Real estate investments can be exciting, including those linked to tourism.

The next direction is the technology sector. There is quite a lot of activity in the field of information technologies in Armenia, and it is one of the main branches of the economy.

I cannot fail to mention the next most important branch of our economy, which has shown impressive development in recent years. We are talking about the financial sector. The banking system in the Republic of Armenia has shown significant developments and reliability during both the coronavirus and 2020 wars.

Of course, we want to ensure that the businessman does not face any obstacles while doing business, and consistent reforms are aimed at this," the Prime Minister said.

According to Nikol Pashinyan, while building the "Academic City," the Government will also provide an opportunity to invest in the private sector. "A new national stadium is also planned for that area. To make long-term investments in the agricultural sector, we plan to build 15 medium-sized reservoirs.

Our policy in education and science is to make significant investments, and our goal is to make the Republic of Armenia a country with a high-tech economy and production, the main motto of which is knowledge, knowledge-based economy, and knowledge-based management. And this knowledge-based management should create a field where investors can invest confidently and be sure that through their legal and fair work, they can get rich and enrich the Republic of Armenia," said Prime Minister Pashinyan.