The first private investment fund will start operating in Armenia this fall
On July 12, Armenian Prime Minister Nikol Pashinyan received Amber Capital's Chief Executive Officer Joseph Oughourlian and head of the company's Armenian office Karen Arabyan.
According to the press service of the government of Armenia, Amber Capital is the founder of the first private joint stock investment fund in the Republic of Armenia. It is expected that the fund will officially begin operations in September-October of this year.
The Prime Minister of the Republic of Armenia and representatives of Amber Capital discussed issues of cooperation, in particular, touched upon areas and perspective areas of investment programs financed by the fund.
The Prime Minister noted that the goal of the government is to make the Armenian economy competitive, to shift from the mining industry to the processing industry and to stimulate the development of priority areas for economic growth: production, information technology, tourism, engineering and high-tech industry. The Prime Minister noted that, according to Eurostat, Armenia is the leader in Europe in terms of GDP growth in the first quarter of 2019, which testifies to the positive dynamics of economic development and the formation of positive economic expectations regarding the economic environment as a whole. The head of the government also noted the importance of the activities of the investment fund in terms of introducing a culture of corporate governance in Armenia, as well as the development of capital markets.
Joseph Oughourlian noted that Amber Capital is interested in vigorous activity in Armenia and is ready for mutually beneficial cooperation.
The parties exchanged views on the implementation of programs for the development of small and medium-sized businesses, improving the business environment, organizing educational programs for small and medium-sized businesses, developing sports among young people and increasing the transparency of corporate governance.