AmCham Monthly Newsletter №11 2021

November 2021

AMCHAM BOARD MEMBER MS. IRINA DUMANYAN Please, meet Ms. Irina Dumanyan, who has been serving as a Director at AmCham Board member since 2017.

Thanks to her professionalism, diligence and persistence, Ms. Irina Dumanyan has become the Strategic Business Director/ CEO at Siemens Industry Software CJSC (former Mentor Graphics). She has been with the company for more than 16 years.

The company is a world leader in electronic design automation, providing products and award-winning support for the world’s most successful electronics and semiconductor companies.

Before joining Siemens Industry Software Ms. Dumanyan was Human Resources Director at the EPYGI Technologies LTD and a Project Coordinator at the Armenian General Benevolent Union Medical Center (AGBU).

During her career Irina Dumanyan faced obstacles and resistance and she truly believes that being a woman leader is not so easy, especially in IT, adding that women do not need special skills to be leaders, – you either have leadership skills or you do not. After Siemens’s acquisition of Mentor Graphics Corporation in 2017, Ms. Dumanyan was offered to lead the Women’s Information Network inside the company to boost female employees’ leadership skills and give proper guidance. According to her, the existence of this network itself indicates that the problem of gender balance exists around the world.

Ms. Dumanyan also serves as a Board Member at the UATE (Union of Advanced Technology Enterprises).

Apart from her professional busy schedule, she also enjoys spending time with her beloved kids, friends, traveling, painting and listening to music.

LEGAL COMMITTEE ONLINE MEETING On 3 November 2021, AmCham in Armenia held a Legal Committee online meeting. AmCham 6 Legal Committee members and Executive Team representatives were present at the Meeting. The meeting was chaired by Ms. Lusine Mnatsakanyan.

Ms. Lusine Mnatsakanyan welcomed all the participants, thanked them for their interest in the topic, approved the agenda, and mediated the discussion.

The topic of the meeting was the draft on foreigners hiring/work permits and residency documents on which the Chair of the Committee did her comments prior to the meeting. Ms. Mnatsakanyan presented briefly the topic, talked about her comments and the participants started to discuss the Draft law. Each of the participants expressed their opinion and concerns on the topic. As a result of the thorough discussion, the participants came up with comments and suggestions regarding the Draft Law, which was then delivered to the Enterprise Armenia by the Deputy Prime Minister for discussion to make the business voice heard as soon as the law is still on its draft phase.

WORKFORCE DEVELOPMENT COMMITTEE (ETD) WORKING GROUP (WG) MEETING On 11 November 2021, AmCham in Armenia held a Workforce Development Committee Education, Training and Development (ETD) Working Group (WG) meeting in Boardroom, Armenia Marriott Hotel, Yerevan. 7 WG members, a special guest namely Dr. Freimut Hinsch, and the Executive team were present at the meeting. The meeting was chaired by Dagen Valentine.

The participants discussed the WG outcomes to be, the success scenario of the WG they imagine, and deadlines for the success. For the specific WG outcomes to achieve it was decided to put a deadline of 6 months. It was supposed to compile a proposal that should be presented to the appropriate Government authorities (Ministry of Economy, Ministry of Education, Ministry of Labor and Social Affairs).

The success defined for a six-month period was decided as an established ongoing relationship with corresponding Ministry representatives and a finished proposal aimed at promoting education training and development by the WG that is accepted by the Government authorities.

Accordingly, the WG was tasked with the following points: • Informing the members of the corresponding Ministries of RA on the ETD WG and the work it is doing and engaging them and their insights on education • Requesting data from the Corresponding Ministries while also sharing reasons why does the WG require such data • Requesting presentations from the corresponding authorities and committees that concern and address Work Force Development and related issues • Asking for the attendance of policymakers and decision-makers from the Ministries within the WG in order to collaborate and support in necessary inputs.

To collect data and do a market assessment multiple sources were defined by the members, some of which are available sources and some that would be researched or requested: • Global Entrepreneurship Monitor: Armenia National Report 2019/2020, was referenced as a direct resource.

• The HR Association data/report, which includes 250 Employers. Conducted a survey that focuses on 13 directions.

• AmCham’s previous Satisfaction Survey data.

• EV Consulting (Civitta Armenia), to retrieve data.

• American Councils development roundtables dataset will be provided by the acting Chair in addition to the UN Career Orientation data.

• Next steps: • All the data mentioned above will be shared amongst the Committee members for review and further suggestions about the ETD Action Plan • The Working Group has chosen to conduct its next session on 6 December 2021 in which they will already have their position and comments derived from the data and delve deeper into the processed action plan.

• It was decided to invite representatives from the Government authorities to the upcoming WFD Committee meeting after the next WGs meetings.

WFD COMMITTEE STRATEGY AND OPERATIONAL EXCELLENCE AND LABOR WORKING GROUPS JOINT MEETING On 11 November 2021, AmCham in Armenia held a Workforce Development Committee Strategy and Operational Excellence and Labor Working Groups joint meeting in Boardroom, Armenia Marriott Hotel, Yerevan.

Dagen Valentine, Irina Dumanyan, and Tigran Jrbashyan from AmCham Board of Directors, 4 WG members (online), and the Executive team were present at the meeting. The SOE WG discussion was chaired by Areg Abramyan.

The Chair of the WG presented the process PwC passes through when setting up a strategy for the company and all the members agreed with the process thus mentioning the necessity to be specific in the SOE WG strategy setting-up process. All the participants shared their experience and knowledge in this regard.

As a conclusion of the discussion, the participants decided that the main mission of the SOE WG is to find out the obstacles AmCham member companies are facing in achieving their strategic goals, to help SMEs find opportunities for growth, to create close partnership relations with the appropriate Governmental authorities to make the voice and concerns of the business community heard, and to help AmCham members and government authorities (through advocacy tools) to achieve operational excellence. The participants also brought forward the problems companies face because of the lack of qualified human capital. They talked about the necessity of smoothening the work permit and residency issues, tax rates for the foreigners, and the growing attrition rate to be dealt with.

Lilit Gevorgyan suggested conducting a small survey among AmCham members about what strategy they apply in their companies, their strategic experience, strategy measuring tools, problems they face in achieving their goals.

Next steps: • To have the list of the biggest obstacles the companies are facing in achieving their strategic goals to be shared during the next meeting.

• To find out the specific topics that will affect common strategic goals and make some certain practical suggestions, special areas where the strategy is impacted.

The Labor WG discussion was chaired by Lilit Gevorgyan. She briefed the results of the last meeting and mentioned that there are some problems in the Labor Code that need to be dealt with. The participants decided that to help to improve the Labor Code the WG should find out the problems the companies face in relation to the Labor Code first. It was decided to organize a small open survey among AmCham members and hear their concerns in this regard.

Next steps: • The Chair of the WG will compile a questionnaire for AmCham members regarding the problems they face in relation to the Labor Code and AmCham will run the survey • To have ready the results of the questionnaire for the next WG meeting • To apply to the Legal and TCuFP Committees after we have all the gaps detected in relation to the Labor Code and thus to prepare a proposal to advocate with the appropriate government authorities • To have a government representative further at the coming meetings • To have the next meeting on 15 December 2021

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FMCG Committee SWM kick-off meeting with Parpounas Sustainable Consultants (PSC) company On 4 November, 2021, AmCham in Armenia held a Fast-Moving Consumer Goods (FMCG) Committee Sustainable Waste Management (SWM) kick-off meeting with Parpounas Sustainable Consultants (PSC) company representatives in Radisson Blu Hotel Yerevan. Members of the AmCham FMCG Committee, representatives from the Ministry of Environment, UNDP, UMBA, EBA, as well as other partners and the AmCham Executive team were present at the meeting.

During the meeting, Mr. Kyriakos Parpounas presented the PSC company, the journey they passed and the experience they have in the world market of Sustainable Consulting. He generally briefed the scope of the project, presented the EPR concept in the EU. The participants analyzed the deliverables of the project, the timelines for deliverables for each party. Kyriakos thoroughly prescribed the method of the monitoring of the project that is going to be applied and talked about the country's Legislation and the progress so far.

As a result of the successful meeting, it was decided to launch the data gathering process and the project itself. It was agreed that after each phase PSC will give a presentation about the work done and the results achieved by them.

As already known AmCham has signed a contract with PSC company, the principal objective of which is to provide an Armenian Packaging Waste Management Assessment and a guide to set up a packaging waste management system based on the principle of EPR. Armenian business community joins the efforts in establishing a transparent, efficient, and sustainable post-consumer waste management system to meet Armenia’s obligations to introduce the Extended Producer Responsibility (EPR) system by 2023. This commitment is part of the EU-Armenia Comprehensive and Enhanced Partnership Agreement (CEPA) signed between the EU and RA of Armenia in 2017. This study is to support the adoption of EPR systems in Armenia, through identifying and proposing best-case scenarios most suitable for Armenia and financially justified.

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3rd AND 4th DISCUSSIONS OF "CONNECTING CHAMPIONS FOR WORKFORCE DEVELOPMENT" SERIES

On 23 November, the American Councils for International Education Armenia, in collaboration with the American Chamber of Commerce in Armenia (AmCham) and with the support of the US Embassy in Yerevan, organized the third and fourth roundtable discussions of the four-part series "Connecting Champions for Workforce Development" at DoubleTree by Hilton Yerevan City Centre.

The 3rd event's topic was Armenian Start-up and Entrepreneurship Ecosystem.

The 4th event's topic was "Education in Workforce Development."

The two roundtables’ objective was to identify: The start-up entrepreneurship ecosystem: support, policy, and influence, including USG alumni Education and workforce development: examining the k-16+ pipeline The roundtables aim to bring together champions/advocates from various sectors to define the opportunities and pressing needs of 21st-century workforce development in Armenia and provide recommendations to better address the needs of the private sector and the role of entrepreneurship and innovation in Armenia's economy.

American Councils and AmCham were delighted to welcome Mr. Hayk Margarian, Director of the National Center for Innovation and Entrepreneurship, SNCO, Ministry of Economy of RA on the 3rd event where he presented the Entrepreneurship and Startup Ecosystem in Armenia.

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3rd AND 4th DISCUSSIONS OF "CONNECTING CHAMPIONS FOR WORKFORCE DEVELOPMENT" SERIES

During the 4th event, a presentation on Education in Workforce Development was delivered by Mr. Artur Martirosyan, Deputy Minister of Education, Science, Culture, and Sports of the RA. Prior to the roundtables, American Councils has disseminated a survey to AmCham member companies to gather information on the pressing needs in workforce development in Armenia. The key findings and recommendations have served as a basis for identifying the topics of the series of roundtables. During the series of roundtables, the representatives of AmCham companies and members of the USG alumni network, Higher Education Institutions were provided an opportunity to engage in a fruitful dialogue, offering input and feedback to help define the needs of the 21st-century workforce in Armenia.

The series of roundtables are part of the U.S. Embassy Yerevan-funded project: Entrepreneurship, Innovation, and Networking Fund. The cross-cutting goal is to ensure that Alumni of U.S. government exchanges can continue to contribute to the ever-changing needs of the workforce, entrepreneurial activity, and higher education in Armenia.

DID YOU KNOW?

BRONZE MEMBER – IE University

IE University is one of the leading European higher education institutions, whose belief in innovation and entrepreneurship is the integral part of its drive towards academic excellence.IE shapes leaders with a global vision, an entrepreneurial mindset and a humanistic approach to drive innovation and change in organizations.

IE Business School is ranked among the best business schools according to the Financial Times, the Economist and Forbes.

IE is a leader of blended education, being the pioneer of online teaching, it delivers a learning experience which combines interactive online teaching via video conferences and debate forums, with short face-to-face periods at the IE campus in Madrid. IE’s portfolio includes bachelor, masters, MBAs, Executive MBA and executive education programs.

IE Ecosystem consists of 5 Schools and different centers: - IE Business School - A school for transformation, creation and innovation. Our internationally recognized approach creates an environment of thriving professionalism. o MBA, Master in Management, Master in Finance - IE School of Human Sciences and Technology - Educating innovative professionals for the new world of work. Our students draw on communication, media, social sciences and technology to impact business and society. o Master in Business Analytics and Big Data, Master in Cybersecurity, Master in Digital Business and Innovation, Executive Master in Digital Transformation and more - IE School of Global and Public Affairs - We train influential leaders to transform and truly make a difference in the private, public, and non-profit sectors. o Master in International Relations, Master in International Development (designed in partnership with UNSSC), Executive Master in International Trade - IE Law School - IE Law School drives innovation in the legal world, training global lawyers that standout for their passion for entrepreneurship and humanistic spirit. o LLM in International Business Law, Master in Legal Tech, Master in Corporate Compliance - IE School of Architecture and Design - Architecture and design education is based on innovation, responsibility and entrepreneurial spirit, all fostered through project-based learning o Master in Business Architecture and Design, Master in Real Estate IE’s ecosystem also consists of various initiatives, research centers and labs.

- IE Exponential Learning – A department that provides non-degree programs to professionals with a lifelong learning mindset who seek growth at every stage of their careers. Those programs are short-term, and have different formats, such as online, on site, blended, that cater to the different needs of the students. o Data Science Bootcamp, Management programs, Innovation for Managers, Short term specialized programs - Headspring Executive Development –a joint venture of IE Business School and the Financial Times, custom programs catered to specific needs of corporate and public clients.

DID YOU KNOW? Calouste Sarkis Gulbenkian Calouste Sarkis Gulbenkian was a British-Armenian businessman and philanthropist. He played a major role in making the petroleum reserves of the Middle East available to Western development and is credited with being the first person to exploit Iraqi oil.

Gyulbenkyan took his first steps in the oil industry with another well-known oil producer Alexander Mantashyants , In the oil office in Constantinople.

But not long after, Gulbenkian's family left for England. In London, Gulbenkian received a license to set up his own oil office. He was also the economic adviser of the Turkish and Persian embassies in London on oil.

Soon Gulbenkian established the Turkish Petrolium Company and owned 15% of its shares. During World War I, Gulbenkian set up the General Petroleum Committee, which aimed to acquire the German Deutsche Bank.

After the war, the Turkish Petrolium Company was renamed Iraq Petrolium Co. LTD and its shares were divided equally between the current British Petrolium, Royal Dutch Shell Group, Compagnie Francaise des Petroles and Near East Development Corporation. He owned oil fields in Venezuela, Iran, Iraq, Saudi Arabia and the United Arab Emirates. From 1920 to 1940, he took over the Armenian schools and medical centers in Turkey, Syria, Lebanon, Jordan, and Iraq, and undertook the construction of numerous churches in the Middle East.In 1936 Gyulbenkyan donates $ 400,000 to the Mother See of Holy Etchmiadzin for the reconstruction of the museum and the restoration of the walls. In the 1920s, the Armenian community in London expressed a desire to have a church, and they turned to Galust Gyulbenkyan.

He meets the request of the Armenian community. In 1920-1922, St. Sarkis Church, following the example of the bell tower of Haghpat Monastery. The church is still considered one of the most beautiful monuments in London, where the ceremonies are performed free of charge, at the expense of his bequest. He paid great attention to K. St. Savior National Hospital of Constantinople.