FINANCIAL CRISIS WILL HELP CLEANING CAPITAL MARKET OF SMALL COMPANIES

PanARMENIAN.Net
26.02.2009 18:25 GMT+04:00

Capital market development and implementation of public deals mechanism
will be discussed at "Capital Market in Armenia" Conference to be
launched in Yerevan on. Feb.27.

"Armenia has registered progress in development, creating certain
preconditions for financial market development. Another precondition
is the presence of NASDAQ OMX in Armenia as well as the activities
of Armenian Government aimed at capital market infrastructure
reforms. Both the public and major companies are interested in
applying new instruments to raise funds", Grant Thornton Amyot Auditing
Consulting Firm Stockholder Gurgen Akopyan said.

NASDAQ OMX Armenia Stock Exchange Director Armen Melikyan says
the development level of any market depends on the education
level of its participants. "The main goal of the conference is to
instruct representatives of our market how to use new instruments
of attracting investment, which, will help them develop after the
crisis. Financial crisis has also positive sides i.e. it will help
cleaning the market. While part of the companies will leave the market,
the remaining will have new possibilities for attracting investments,
though not large", Melikyan said.

The forum organizers are: Grant Thornton Amyot (GTI) Accounting and
Consulting Firm with the assistance of Central Bank of Armenia,
Ministry of Economy, NASDAQ OMX Armenia Stock Exchange, American
Chamber of Commerce in Armenia (AmCham), Financial Sector Development
USAID Program. "Grant Thornton Amyot is ready to assist any company
in obtaining information on Capital Market", Gurgen Hakobyan said.