During the session, a number of initiatives of the Association were discussed and observations were presented on their progress, in particular:
The introduction of special regulations "On the Peculiarities of Developer Bankruptcy", which are aimed at the recovery of construction projects at risk of failure, ensuring their continuity and protecting the interests of consumers,
Expanding mechanisms for insurance of buyers' payments and promoting the use of this tool by the Government, which will allow more effective protection of consumers' interests in case of problems arising during construction,
Investment environment risks, criminal and administrative regulations, as well as issues of ensuring legal protection of a bona fide purchaser,
Integration of the capital market into the urban development market and possible options for expanding the Government's supporting tools.
Agreements were reached to increase the efficiency of cooperation and summarize specific results in a short time, in particular:
On the initiative of the Central Bank of the Republic of Armenia, to organize a meeting-discussion between insurance companies and representatives of the Association to discuss insurance toolkits and develop effective solutions,
To ensure coordinated work between the Ministry of Justice and the Association to introduce special regulations in the field of bankruptcy,
To study, with the involvement of representatives of law enforcement agencies, the risks arising in the investment environment and the practice of seizing the property of bona fide purchasers in order to prepare the necessary legislative amendments.
The President of the Association expressed his satisfaction with the representatives of public authorities for the effective and high-level partnership and readiness to solve the problems of the investment environment.