CHAMBER OF COMMERCE AND INDUSTRY OF THE REPUBLIC OF ARMENIA

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RA CCI – European Union

RA CCI – European Union

The Investment conference organized by RA Chamber of Commerce and Industry in “Ani Plaza” hotel in the framework of “East Invest” project in Armenia was targeted at strengthening the cooperation between European and Armenian enterprises, as well as business support organizations which enabled two parties to discuss concrete projects. So far 3 dozen companies have registered their projects by the Armenian side. Executive Director of RA Chamber of Commerce and Industry Mr. Araik Vardanyan had opening speech, RA Deputy Minister of Economy Mr. Tigran Harutyunyan welcomed the participants on behalf of the Government, Head of Trade and Private Sector Development Mr. Ludovic Ciechanowski welcomed on behalf of EU in Armenia, Advisor of International Affairs of Eurochambres Mrs. Birgit Arens – on behalf of Eurochambres and Mr. Robert Harutyunyan by Armenian Development Agency.

Executive Director of RA Chamber of Commerce and Industry Mr. Araik Vardanyan proposed business representatives to invest in our country. “Today Armenia invites its friend businessmen to do investments in mining, jewelry and diamond, chemical industry, information technology, tourism and other profitable sectors”, – said Araik Vardanyan.

Executive Director of RA CCI noted that the largest investor in Armenia is the Russian Federation since independence followed by France. Main investments were in telecommunications and beverage production sectors. “The third largest investor is the Netherlands though direct investments are minor here, they primarily support to different projects”, – noted Mr. Vardanyan adding other large investor countries in Armenia as well.

RA CCI Executive Director touched upon Armenia’s accession of Customs Union emphasizing that this factor will not impede the investments, “On the contrary this decision creates new opportunities for entrepreneurs. Armenia can become a bridge between the Customs Union member countries and the EU”.

RA Deputy Minister Mr. Tigran Harutyunyan touched upon the investments done in Armenia and the activity of large international companies of our Republic welcoming the guests and evaluating RA – Eurochambres cooperation – “We can state that the investment level has started to be recovered. Investment growth is recorded in Armenia after the international crisis though pre-crisis investment volumes have not recovered yet”. By the Deputy Minister EU countries investment has been 315 million USD in Armenia in 2012 and 150 million USD by the data of three quarters of 2013. Mr. Harutyunyan informed on the large international organizations operating in Armenia. He emphasized the importance of industrial development policy of Armenia and 11 priority sectors of economy. Investment climate of Armenia was presented by the “Armenian Development Agency”.

Relevant experts of EU and Armenia introduced investment and business environment of Armenia, opportunities of free economic zone, industrial priority sectors, as well as main trends of industrial policy.