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UAE hails Armenia as attractive investment country

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UAE hails Armenia investment

YEREVAN, JUNE 21, ARMENPRESS. The United Arab Emirates is interested in making investments in Armenia’s different sectors, Ambassador Jassim Mohamed Al Qasemi told reporters on June 21 in the UAE embassy in Yerevan.

According to the Ambassador, the investment field is rather attractive in Armenia, stability exists, as well as economic development is seen, and there are good opportunities to make investments, which the embassy supports in all ways.

“Trade turnover between the two countries has grown. In 2016 it was 119,3 million [dollars], and in 2017 in already reached 149,3 million [dollars],” the Ambassador said.

The Ambassador said that the economic field has its unique role between the two countries.

“Investments in Armenia are mostly in the energy field, they can be either direct or through cooperation with Armenians. We also have investments in the tourism sector, trade sector, a bright example of which is Carrefour in Armenia and soon new sectors will also open for investments,” the Ambassador said, adding that Armenians are also centralized in several sectors in the UAE, since the UAE is also a good country for investments, like Armenia.

The UAE Ambassador labeled the relations between Armenia and the UAE as “excellent and developed”.

Speaking about political relations between the two countries, the Ambassador said that these relations are developing continuously.

“Mutual visits are taking place between officials of the two countries. We are very interested in the Francophonie summit, which will take place in Yerevan this October. We have chosen this very summit, which will take place in this country, to declare that the UAE wants to become a permanent member of La Francophonie,” he said.

“Important sectors of cooperation are the cultural and economic sectors. We, certainly, are interested in the investment opportunities of both countries, tourism and energy sectors are also very important,” the Ambassador said when asked by ARMENPRESS in which specific sectors the countries will actively further cooperate.

 

10 UK companies exploring investment opportunities in Armenia

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10 UK Business companies, led by the UK Prime Minister’s Trade and Investment Envoy (TIE) to Armenia and Georgia, Mark Pritchard MP, arrived in Armenia on Wednesday, June 6 to identify bilateral trade and investment opportunities in renewable energy, infrastructure and urban modernization sectors, the British Embassy said in a Facebook post.

The two-day intensive programme includes meetings with high-level Armenian state authorities and business representatives, followed by a large UK-Armenia business forum and one-to-one meetings between British and Armenian entrepreneurs.

Ahead of the business delegation’s visit, Pritchard said the visit offers a unique opportunity to develop business relationships with a wide range of UK companies, representing excellence from a variety of sectors.

“Given the amount of expertise that exists on both sides, bringing together specialists from the UK and Armenia is a genuinely exciting prospect. I am thoroughly looking forward to playing a part in the event,” the Envoy said.

This is the fourth visit of Pritchard to Armenia since his appointment as British Trade and Investment Envoy to Armenia and Georgia by the UK Prime Minister Theresa May in September 2017. During his previous visits, Pritchard discussed with Armenian state officials and business representatives opportunities to increase the volume of trade and investment between the UK and Armenia.

Related links:

British Embassy’s Facebook post

Armenia, Russia launch joint investment fund

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The joint Russian-Armenian investment fund opened in Yerevan on Saturday in an official ceremony attended by Prime Minister Karen Karapetyan and several dozen Armenian businessmen from the Russian Federation.
The initiative to create the Armenian Investors’ Club was proposed by major Russian-Armenian entrepreneurs back in February, who justified the idea by the need to assist in the reforms process in the country and back the government-proposed joint initiatives and business plans.
“I know each and every member of the club as I maintain friendly relations with most. This club, as a matter of fact, will mark a groundbreaking moment for us not only because it promises healthy and long-lasting investments but also because it is expected to develop a new corporate culture,” he said, highlighting the need of active capacity-building to impart a new quality to the business atmosphere in Armenia.

 

The Armenian Investors’ Club is the first non-public contractual investment fund in Armenia registered by the Central Bank. Its mission is to address key sectors of economy (energy, including alternative power production, energy and tourism infrastructures, mining, minerals’ re-procession, food and light industries) through attracting internal and external financial means.

Armenian -Russian investment fund to be established within months, Suren Karayan says

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YEREVAN, January 26. /ARKA/. The Armenian-Russian investment fund will be established in the coming months, the economic development and investment minister Suren Karayan said today.

It was Armenian Prime Minister Karen Karapetyan who proposed that an Armenian-Russian investment fund to be set up with a view to funding Armenia’s priority economic sectors. According to the Armenian government, the Russian side positively assessed the proposal. During Karapetyan’s official visit to Moscow earlier this week the parties looked at the possibility of Russian companies’ involvement in the free economic zone to be established near the Armenian-Iranian border. Appreciating the proposal, Russian Premier Dmitry Medvedev expressed the opinion that Russian companies will show interest in this issue.

Speaking to local reporters today, Suren Karayan said the main purpose of the fund is financing and investment in sectors that will lead to growth of trade turnover between the countries, substitution of imported goods, development of industrial cooperation and growth of exports.

He said that during prime minister’s visit to the Russian capital numerous meetings and discussions were held with representatives of the Russian government and Russian businessmen of Armenian origin, who expressed their willingness to make investments in Armenia.

According to Karayan, the Russian side is interested in Armenia’s energy sector, renewable energy, agricultural products and mining industry. The minister noted that similar negotiations are being held not only with Russia but other countries as well.

The idea was discussed also by Karayan and Russian industry and trade minister Denis Manturov on January 23

Armenia Investment Forum launches in New York

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ny-investmentArmenia Investment Forum kicked off in New York with participation of President Serzh Sargsyan on Monday, October 10, seeking to introduce 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 gave a speech highlighting current geopolitical and economic priorities, achievements during the quarter-century of Armenia’s 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 U.S. Congress Representative, Frank Pallone, 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 U.S., 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 address 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.

Putin visits Greece for energy, investment talks

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Putin in greeceRussian President Vladimir Putin made his first trip to a European Union country this year Friday with a visit to Greece that will include a stop at a secluded Christian Orthodox monastic sanctuary in the country’s north.

Under heavy security, Putin arrived for a two-day visit expected to focus on energy cooperation and Russian investments during talks with Greek Prime Minister Alexis Tsipras.

Athens is keen to maintain its traditionally close ties with post-Soviet Russia, despite its participation in European Union sanctions against Moscow, and a gas pipeline project designed to limit Russia’s regional energy dominance.

Putin was met at Athens Airport by Defense Minister Panos Kammenos as air force F-16s buzzed overhead as part of a welcoming ceremony.

Russia is one of Greece’s main trading partners, but business has been hit by the sanctions and drop in commodity prices.

Greece is also keen to reverse a slump in tourist arrivals from Russia last year.

“This will be the first time Putin has visited an EU country in the past six months and Russia-EU relations will be definitely on the agenda,” said Alexander Kokcharov of the U.S.-based IHS Country Risk group.

“Putin is likely to offer investment projects in Greece, most likely in energy and transport sectors. However, we do not expect that Greece would go against the EU consensus.”

Some 2,500 police will provide security for Putin’s visit in Athens, and much of the city center will be blocked to motorists and public transport.

On Saturday, Putin will visit the Monastery of St. Panteleimon, which is inhabited by Russian monks. It’s set in the 1,000-year-old Mount Athos autonomous monastic community, from which women are banned.

He will be accompanied by the head of Russias Orthodox Church, Patriarch Kirill of Moscow, who arrived in northern Greece on Friday.

[AP]