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Time in Yerevan: 11:07,   29 March 2024

Forum aimed at attracting investments into Armenia’s economy to be held in New York

Forum aimed at attracting investments into Armenia’s economy to be held in New York

YEREVAN, AUGUST 24, ARMENPRESS. An investment forum dedicated to attracting foreign investments into the economy of Armenia will be held in New York on October 10-11, head of Armenia Development Fund Karen Mkrtchyan said, Voice of America reported.

He said the high ranking officials of the World Bank and the Asian Development Bank, as well as heads of companies will deliver speeches in the forum.

The organizers also expect Armenian President Serzh Sargsyan’s presence in the forum.

“This is the first such event within 15 years, and we still do not have a list of investors”, he said.

The forum has been organized by the Armenian Government and the Asian Development Bank. The event will be attended by leading economic commentators, as well as heads of Hyatt Hotels, ABBYY, Reddit, PicsArt and other companies.

“We are going to present 8 sectors of Armenia’s economy and the state projects aimed at supporting these sectors. Moreover, the representatives of companies, who have reached progress in these sectors, will speak about them”, Karen Mkrtchyan said.

The investors will be introduced on the prospects of the solar energy, railway transportation, North-South road construction, mines exploitation, agricultural development projects, as well as the prospects for the development of high technologies.

Karen Mkrtchyan said despite the blockade and corruption, Armenia’s economy can present an interest for foreign investors. “Armenia has a potential to become a platform for the European and American companies which then can transform their products to Russia and other countries of the Eurasian Economic Union without customs fees”.

“The volume of foreign direct investments has been significantly decreased, and this can have a number of reasons. I think one of the reasons is that we are in a transitional period”, he said. 








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