YEREVAN, June 16. /ARKA/. In an interview with ARKA news agency Secretary General of the Federation of Euro-Asian Stock Exchanges Konstantin Saroyan noted that the Armenian capital market is very developed in terms of technologies and procedures.
According to him, the securities exchange and the depository do great work for attraction of investment as well as for promotion of financial instruments designed for corporate clients.
“The potential is very large, especially considering that, in principle, the interest rates on AMD are quite attractive. As for government bonds, they are quite accessible in a wide range. And they are available not only in Armenia, but also abroad as Eurobonds. The depository has a direct link with Clearstream, which enables foreign investors to conduct transactions with government bonds without having to visit Armenia,” he said.
He said that the next stage will be drawing corporate bonds, securities and stocks under this link. According to him, this will serve as an additional growth stimulus for the development of Armenia’s capital market.
“The main weak link is corporate governance. We should approach it quite seriously. It is not only a problem of procedures and laws but also an issue of instilling the ideology of collective management,” he said.
Speaking on the ways to solve this problem Saroyan marked out the development of the institute of directors, the center for corporate management, educational work and also in a certain sense the marketing work for promoting the ideology of corporate management. -0-
