Presentation of investment opportunities of Armenia caused great interest among the participants of EBRD forum in Kiev

19.05.2008 | 11:14 Home / News / News /

Yerevan /Mediamax/. Presentation of investment opportunities of Armenia took place## in Kiev on May 18 within the framework of the annual gathering and the business forum of the European Bank for Reconstruction and Development (EBRD).

As the special correspondent of Mediamax reports from Kiev, the presentation of Armenia concluded the program of the first day of EBRD business forum. One can judge about the level of interest, which the presentation caused among the participants of the forum, by the fact that 15 minutes prior to the start of the presentation, a line had been formed near the doors of the hall. The hall itself was so filled up that a part of visitors had to remain on their feet.

The presentation was launched by the Head of EBRD Office in Armenia Michael Weinstein. He informed that, as of January 1 of 2008, EBRD funded in Armenia projects at the total sum of over 280mln euro, 70% of which made the investments into the private sector. Michael Weinstein gave high assessment to the steps, taken up by the government of Armenia in the sphere of reducing the share of shadow economy and combating corruption.

Chief Executive Officer of “NatFood” CJSC Armen Khudinyan made a brief report, telling by the example of his company about the processes of technical re-equipment and attracting investments into the Armenian business, and the Chairman of the Board of ACBA Credit-Agricole Bank Stepan Gishyan presented a report, sharing his experience of financing the agricultural sector, as well as made forecasts concerning the future of the Armenian banking sector.

As the special correspondent of Mediamax reports, Deputy Minister of Economy of Armenia Vahram Ghushchyan noted that much is done in Armenia to increase the investment attractiveness of the country. At that, the Deputy Minister noted, the government sees the remaining problems and plans for resolute and consistent steps to overcome those problems.

Vahram Ghushchyan pointed out the priorities of the Armenian government concerning the improvement of economic situation of the country and the investment climate. Thus, one of the most important priorities is increasing the level of life in Armenia and making it closer to the EU standards by 2020. At that, the Deputy Minister of Economy states, today one does not talk about the formal membership in the EU. “Our primary task is to improve the quality of life of the Armenian citizens and to make it meet the level of developed European countries”, representative of the Armenian government stated.

Vahram Ghushchyan noted that, taking into account the historic and natural peculiarities, the basic resource of Armenia is the people, and the government sees great prospects in the development and revelation of the intellectual potential.

Aiming at this, according to the Deputy Minister, the government realizes the following initiatives and programs:
- active development of IT sphere;
- turning Armenia into the financial center of the region;
- development of the market of consulting services in Armenia;
- development of the sphere of healthcare and opening a number of large medical clinics (including a modern center to struggle oncological cases), which will allow Armenia occupying a leading place in the region in the sphere of medicine.

In his speech, Deputy Minister of Economy touched upon the topic of interrelation of Armenia with the Diaspora. “We somewhat reconsidered our vision of interrelations with the Diaspora. We see in our compatriots, living abroad, more a source of knowledge, experience and new ideas, which those people would be ready to introduce in Armenia, rather than only a source of financing. We will create all conditions for that”, the Deputy Minister of Economy stressed.

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