Yerevan /Mediamax/. PricewaterhouseCoopers Company officially announced today the opening of its office in Armenia##.

Mediamax reports that Mike Kubena, CEO Senior Partner of PricewaterhouseCoopers Central and Eastern Europe noted that Armenia is the 150th country where PricewaterhouseCoopers has its fully operational office.

Mr. Kubena assessed the Armenian market as having great potential and PricewaterhouseCoopers expects to have its own contribution to the development of Armenian business and economy and succeed in providing quality services to both international companies, represented in Armenia, and the local ones.

PricewaterhouseCoopers Armenia has its clients in Armenia. Among them are “Electric Networks of Armenia” CJSC and “International Energy Corporation” CJSC.

The transition process to IFRS (Internationalancnancial Reporting Standards) has already started in the country and in these terms PricewaterhouseCoopers’ presence in Armenia is very important as it is going to assist this process and develop the audit and accounting professions in the country.

In addition, Mr. Clifford Isaak, Managing Partner of the Caucasus Region of PricewaterhouseCoopers, said “we do not fear competition”. He particularly stressed that PricewaterhouseCoopers entered the Armenian market in result of the demands of its global and local clients as well as the increased interest in Armenia from investors, both foreign and local.

Currently the Armenian office has 20 staff and is growing rapidly. Mike Kubena was especially delighted to see their “dedication, enthusiasm and professionalism”.