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The first private investment fund will start operating in Armenia this fall

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15.07.2019
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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.

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