YEREVAN, March 21. /ARKA/. Shady dealing is widespread in Armenia, Supachai Panitchpakdi, Secretary General of United Nations Conference for Trading and Development, said Monday at a news conference in Yerevan.
This is not only the state antitrust commission, but also other governing institutions’ fault.
At the same time, he welcomed legislative changes obliging 500 large economic entities to release their financial reports.
Panitchpakdi said that the commission should scrutinize economic entities’ activities. Otherwise, they will continue hiding their true turnovers and evading taxes.
He also stressed the importance of effective usage of the register of the companies dominating the market. This would lay favorable groundwork for suing them.
Besides, he pointed out the necessity of development of corporate management in Armenia for creating a favorable environment for observing competition rules and protecting consumer rights.
Panitchpakdi said that not only Armenia, but also other CIS countries have such a problem. -0—
