Yerevan /Mediamax/. Armenian Minister of Economy Tigran Davtyan said today that the country’s economy is restoring and reviving.

Addressing a press conference in Yerevan today, Tigran Davtyan said that the common tendency of development of the economy is positive and basic indices of the first quarter of 2011 are inspiring, Mediamax reports.

The Minister said that investment programs in the amount of almost AMD 70bln have been implemented due to government’s programs aimed for VAT deferment and increase of terms of “Temporary import” tax regime.

According to him, about 10 new enterprises in the spheres of agriculture, industry and tourism, providing hundreds of new working places, were put into operation in the first quarter of 2011.

“Yesterday the parliament also approved the law “On inspections” which will allow to create a system of inspections based on risk assessment and favorable conditions for the business. Actions aimed at the improvement of the business environment will be continuous,” Tigran Davtyan stated.