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PM Receives Amber Capital Representatives

Prime Minister Nikol Pashinyan received Amber Capital Executive Director Joseph Oughourlian and Armenia Office Head Karen Arabian. Amber Capital is the founder of the first Private Equity Investment Fund in Armenia. The official launch of the Fund’s operations is expected this fall, in September-October.

The Prime Minister and Amber Capital’s representatives discussed issues related to bilateral cooperation. In particular, they focused on the promising areas to be financed by the Fund. The Premier stressed that the government’s objective is to make the Armenian economy competitive by shifting from extractive to processing industries and stimulating the manufacturing sector, high technology, tourism, and machine building.

The Prime Minister noted that according to data available from Eurostat, the Statistical Office of the European Union, in the first quarter of 2019, Armenia was the leader in Europe in terms of GDP growth indicators, which reflects the good dynamics of its economic development and positive expectations about the economic environment, in general. Nikol Pashinyan hailed the Fund’s activities in terms of reinstating the culture of corporate governance in Armenia and developing the financial markets.

Joseph Oughourlian noted that Amber Capital is eager to expand its activities in Armenia and is ready for mutually beneficial cooperation. Views were exchanged on issues related to the development of small and medium-sized enterprise, improvement of the business environment, implementation of training programs for SME representatives, development of youth sports, as well as achieving greater transparency in corporate governance.

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