Yerevan /Mediamax/. U.S. Ambassador to Armenia Richard Mills said today that it is still too early for new major U.S. investments to be announced in Armenia.

The U.S. said that corruption and lack of a level playing field for businesses has been the biggest obstacle in attracting investments. 

“The Armenian government’s actions to tackle the issue of corruption and ensure a level playing field are very welcome in the United States. But it is still too early for new major investments to be announced.

We are getting expressions of interest from the business community in the United States about the opportunities in Armenia. But these potential investors are waiting to see whether now the government will follow up with some concrete actions. They also want to see whether the investigations, launched into credible allegations of corruption, are carried out in a fair manner, according to the rule of law.

And they want to see how the government is treating foreign and local firms. They are also looking at the issues around Lydian to see how the government is handing those very sensitive and controversial issues and whether Lydian will be treated fairly as that process unfolds,” U.S. Ambassador said, noting that he is confident about the government’s commitment.