ARMINFO News Agency, Armenia
Aug 25 2017


Heads of DFA and Armenian-American Business Council discussed
investment prospects with US technology companies


Yerevan August 25

Naira Badalyan. For better positioning in the eyes of the US business
circles, as well as engaging in the Armenian economy US investment in
the near future on the initiative of the Armenian Development Fund
(ADF) in the Republic of Armenia will host workshops, which will
feature the creative development of local expertise. "Immediately on
his return to Armenia, we are planning to organize a seminar 1-2,
where in one place will gather all creative thinkers," - said the
executive director of the ADF Armen Avak Avakian after round table
discussions with representatives of the American medium and large
businesses in Los Angeles.

As the press service of the FRA, during his visit to the United States
head of the organization, accompanied by Chairman of the
Armenian-American Business Council Alec Baghdasaryan visited a number
of technology companies, including "Career", "QUETICO", "Cater Truck".
The investment prospects of Armenia were discussed with the heads of
the companies.

Previously, ArmInfo reported that a presentation of investment
opportunities of Armenia was held in the American Los Angeles. Head of
ARF told US investors about the readiness of Yerevan to become an
important platform to enter the Iranian market (from $ 450 billion
GDP) and the EAEC (with $ 3 trillion of GDP). In addition, during the
presentation "Choose Armenia" in the video "Nation of Innovation", the
achievements and opportunities of the republic in the field of IT were
demonstrated. The event was held on the initiative of the Armenian
Genocide in Los Angeles. Head of the Chamber of Commerce of Los
Angeles County and Orange County, and the cities of Los Angeles and
Glendale, representatives of consulting agencies and corporate
executives, attended it.

To note, as of April 1, 2017 accumulated gross investment in Armenia
from the US amounted to 211.1 billion AMD or $ 436.6 million with an
annual growth of 13%. In particular, FDI amounted to 122.6 billion or
$ 253.6 million, with annual growth of 11%. Taking into account
repayments, gross investments amounted to over 99 billion or $ 204.8
million with annual growth of 4%, including FDI 80.5 billion AMD or $
166.5 million with an annual decline of 4%. (The calculated exchange
rate of AMD as of March 31, 2017 was 483.45 AMD).