Yerevan/Mediamax/. Armenian President Serzh Sargsian described today the phenomenon, “when an entrepreneur elaborates mechanisms to avoid taxes or abuses their dominating position in the markets aiming at receiving excessive profit, as “unacceptable”.

“Especially strange is such behavior in case of big economic entities, which already have advantages due to their size and turnover”, President said, speaking at the fourth congress of the Chamber of Industry and Commerce of Armenia today.

Serzh Sargsian said that tax and customs reforms, the gradual transition of these structures to a fundamentally new style of work, the solution of the issue of excessive VAT payments, statement of readiness to exempt companies from payment of profit tax, when they establish innovative productions, as well as establishment of free economic zones evidence the fact that “the government has stirred up its policy on abrupt improvement of the business climate and stimulation of business”.

President also said that “despite negative external economic signals, closed borders, geopolitical, social and structural problems, our economy has a real chance to be among the world leaders as to economic growth”.

“Continual two-digit growth of our economy in the last decade is the best evidence of the fact that our country, holding purposeful, consistent economic policy and having a clear-cut orientation for growth, can reach unprecedented results”, Serzh Sargsian said.