Business in NK

Development of Tourism in Karabakh

The president of NKR in his inauguration speech mentioned the necessity of developing tourism in Karabakh. The inefficient policy of the state in this sphere in the last years was the reason why only 5 % of the national tourist inflow falls to Karabakh that has great possibilities for tourism. Although the state has stopped to finance tourism, as well as other spheres, nevertheless tourism exists and develops. However, state financing is important for making tourism a source of income for the country, and exposing the historic, cultural and spiritual values of the region to the world. For the successful development of tourism legislative changes are needed, such as laws of state support of tourism, the security and rights of tourists. For the development of local tourism the important factors are creating quality production for tourists, preservation of cultural monuments, nature, museums, advertisement in NKR, Armenia and abroad, modern level of service, and consequently, professional service staff, investments. Investments are necessary for creating a net of small hotels and motels on the important roads. Generally, favourable political and economic conditions are created for developing tourism.

source Azat Artsakh Newspaper
 Banks
Artsakhbank CJSC was established on 12 February, 1996 according to the resolution of the Bank’s Shareholders General Meeting. On 6 November, 1996 “Artsakhbank” CJSC was transformed into “Artsakhbank” OJSC according to the resolution of the Bank’s Shareholders General Meeting. On June 24, 2001 “Artsakhbank” OJSC was reorganized into Artsakhbank CJSC.

“Artsakhbank” CJSC had 141mln profit in 2001: the actives of the bank made 6073 mln ADM` which is twice more than the previous rate, occupying the second place among the Armenian banks. The credit investments are increased for 180,7% - 3457 mln drams. By the liquidity and profitability rate the bank occupies one of the first place in Armenian banking system. 
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Taxation
Soon you can find here info on NK taxation.

NK links
Official Site of President of NKR
Official Site of Ministry of Foreign Affairs
Artsakh World
Arminco-NK
A Plus FM 9