Yerevan/Mediamax/. Armenian Prime Minister Tigran Sargsian stated today that the market of securities will remain underdeveloped as long as there are no transparent companies in the country, working in the real sector of economy.

Head of the government said this today, speaking at the meeting with students of economics universities, organized at the initiative of Mediamax and www.Banks.am portal.

“Per se, today there are no full-fledged open stock companies in Armenia, not including commercial banks”, Prime Minister stated.

Referring to the research, held by NASDAQ OMX, which is the owner of Armenian Stock Exchange, Tigran Sargsian noted that often the owners of non-transparent companies underestimate the cost of their assets 10-20 times.

“That is to say, if the owners did not hide their real financial flows from the state, they would be able to receive much more profit, taking their companies to the stock exchange, as compared to the means, which they put into their pocket due to working “in shadow””, the Armenian Prime Minister stated.

Tigran Sargsian reminded that NASDAQ OMX offered to introduce certain tax benefits for companies, which will express the wish to get transformed into OJSC, aiming to enter the exchange. The Prime Minister stated that the corresponding legislative changes have already been made and expressed hope that they will give results.