YEREVAN, March 24, /ARKA/. Arsen Ghazarian, chairman of the Union of Armenian Industrialists and Businessmen (UAIB), reiterated today that creation of a fair competition environment is a key stimulus of economic growth.

 Speaking to journalists on the sidelines of a conference on strengthening fair corporate system, he said corruption is a major reason hindering active entrepreneurship. According to him, many Armenian businessmen supported for years all processes aimed at fighting corruption. He then stressed that all must understand that without fair competition there is no future. According to him, the main thing now is mobilize all programs designed to reduce corruption. He said over the last 2 years Armenian businessmen have got new platforms to voice their opinions.

 In 2009 October the Armenian government approved an anti-corruption strategy and plan of actions for 2009-2012.

 The conference on strengthening fair corporate system was organized by USAID together with Armenian ministry of economy and USAID funded Competitive Armenian Private Sector (CAPS) program.

 It has brought together over 200 representatives of local and foreign companies, banks, commercial agencies, government and civic society. M.M. -0-