Armenia's successful investment experience presented in NY
Armenia Investment Forum started in New York with participation of Armenian President Serzh Sargsyan on October 10, with the main aim of introducing foreign investors to investment opportunities in Armenia. The Development Foundation of Armenia organized the two-day forum where representatives of leading companies from various sectors and international finance organizations, experts, and around one hundred international investors will participate. The President of Armenia Serzh Sargsyan gave a speech highlighting current geopolitical and economic priorities, achievements since the quarter-century of independence, the country’s competitive advantages, investment opportunities, implemented reforms, the favorable business environment, easy access to regional markets through Armenia and a stable macroeconomic environment. The President suggested investors use Armenia's assets as a gateway to the region's major markets. The Chairman of the Board of the Eurasian Economic Commission, Tigran Sargsyan, the Vice-President of the Asian Development Bank, Wencai Zhang, the Executive Director of the World Bank Group, Frank Heemskerk, and US Congress Representative, Frank Pallone, all gave speeches at the forum. The bridging role of Armenia between Europe and Asia, east and west, in the context of global developments was presented to potential investors during the forum. This bridge offers international investors a favorable alternative considering Armenia’s membership to various international unions and free trade agreements. Speakers emphasized that Armenia is a member of the EEU, with a market of 180 million people; it has signed a free trade agreement with all the CIS countries, with a total of 230 million customers; and benefits from the EU Generalized Scheme of Preferences Plus (GSP+) that gives privileges for the export of 6,400 product items. Armenia also has a GSP trade regime with the USA, Canada, Japan, Switzerland and Norway. Additionally, traditional trade and economic relations with Iran are now opening links for other economies to the Iranian market. Presentations also discuss the competitive advantages in Armenia such as ease of entrance to strategic markets, educated and inexpensive workforce, and the safe and reforming business environment. These advantages make Armenia an attractive country for investment and bestow an edge over other markets of the region. Over the course of the forum, representatives of the Armenian government will provide firsthand information about the potential for innovation in the IT, mining, agro-food, telecommunication, transport, pharmaceutical, tourism, and financial sectors to potential investors during ten panel sessions of the forum. A large report about private investment support tools by international finance institutions will also be covered during the forum. Representatives of foreign investors such as Armenia Marriott Yerevan, Contour Global, Azad Pharma AG, National Instruments, Synopsis, Armenia International Airports, Coca Cola Hellenic Armenia will present their investment success stories to the participants of the forum. Various meetings and a memorandum signing in the IT sector will also take place at the forum. More detailed information is available at the official web page of the Armenia Investment Forum at http://invest-armenia.com. An information package with the agenda, session participants and work covered over the first day is attached to the press release.
