Armenian President Signs Law Allowing for Stateization of HEC

The President of Armenia, Vahagn Khachaturyan, has signed a law that provides the opportunity for the stateization of the HEC (Hydro-Electric Company). This information has been reported on the official website of the President of Armenia.

According to the document, “The President of Armenia has signed a package of laws that includes amendments to the Law on Public Services Regulatory Body, amendments and changes to the Energy Law, an amendment to the Law on Bankruptcy, and amendments and changes to the Law on State Registration of Legal Entities, their Separate Divisions, Institutions, and Individual Entrepreneurs.”

It is worth recalling that on July 3, the Armenian National Assembly adopted the package of amendments and changes proposed in the Law on Public Services Regulatory Body and the Law on Energy in the second reading and entirely, with 65 votes in favor, 27 against, and no abstentions (commonly referred to as the project for the stateization of HEC).