OREANDA-NEWS. May 28, 2008. In his greeting address Serzh Sarkissian said that the financial system of Armenia has a real potential for becoming the regional financial center. “I believe it is achievable, and I am confident that this very approach should guide our works in the coming years,” stressed the President and added “we must act insistently for bringing to Armenia all the innovations that appear in the world”, reported the Official website http://news.president.am. 

Armenia will take on experience, contemporary methods and traditions of doing business in financials markets. With this regard the President of Armenia hailed the presence of the OMX in Armenia and noted that this kind of important steps should be continuous. “The present economic situation in Armenia should be viewed from a new angle.”

“Our tasks have changed. Challenges faced by our economy have changed too. From now on it won’t suffice for those responsible for the system just present comparative analysis with the financial systems of other regional countries to estimate our own system. They will be asked to present facts to show how close our system has come to the world standards in this or that particular period,” said Serzh Sarkissian.

According to the President, the development of the financial sector is vital, since an advanced financial system can become the locomotive for all the sectors of economy and be instrumental in addressing the problems of the people. In many regards, the financial sector can become the pioneer of introducing new and progressive in the Armenian economy.

President Sarkissian also observed that in Armenia’s development the financial sector can play also another important role: to assist in achieving the even development of the country.

“We will not be able to achieve serious results if the economic growth does not touch each and every of our citizens, and if Yerevan remains the center of all activities. We all love Yerevan, however Armenia is not Yerevan only,” said the President.

It is not possible to achieve the even development of the country if the capital remains the only center of business activities: there should be other centers as well. In this regard, according to the President, the role of the financial sector is significant, and the very fact that the Central Bank of Armenia is making some serious steps in Dilijan President Sarkissian assessed as very positive.