AmCham Monthly Newsletter N3, 2019

For a Better Business Environment

American Chamber of Commerce in Armenia

MONTHLY №3 NEWSLETTER March 2019

AmCham is an independent business association operating in Armenia since 2000. AmCham represents the interests of 140 member companies from almost all sectors of the economy.

AmCham’s goal is to enhance US-Armenia business relations and improve business and investment climate in the country. The Chamber is pleased to have both local companies and companies from all over the world among its members. AmCham Armenia is a member of US Chamber of Commerce and European Council of American Chambers of Commerce.

AMCHAM AND DWV JOINT EVENT On 13 March, 2019 AmCham and the German Business Association (DWV) hosted a joint informal networking event at Armenia Marriott Hotel Yerevan. The idea of holding such an event was to boost mutual ties amongst both organizations as well as their respective members to meet and get to know each other.

Both AmCham and the DWV represent the interests of major businesses in the country from almost all sectors of the economy, advocate to improve business and investment climate in Armenia and serve as a social and networking platform for the members.

The event began with refreshing drinks, snacks and live music from a trio and quickly ascended to an evening of networking and engagement. As an official part of the evening, AmCham President Ara Hovsepyan and DWV President Hasni Kosejian gave a speech representing the organizations, outlining the achievements and talking about the future plans.

CONTACT US 1 Amiryan St., Armenia Marriott Hotel Yerevan, 3rd floor, room 315, 317, Yerevan 0010, RA Email: info@amcham.am / events@amcham.am Tel: (+374 10) 599 902 (+374 55) 599 187 Visit our page: www.amcham.am

PUBLISHED AND DESIGNED BY AMERICAN CHAMBER OF COMMERCE IN ARMENIA

AMCHAM PRESENTATION AT AUA On 11 March 2019, AmCham Armenia’s First Vice-President Ms. Elina Markaryan delivered a lecture on AmCham main activities, its mission and vision as well as shortly represented a case study of Coca-Cola Hellenic Bottling Company on excise taxes.

INTERVIEW WITH… I would say I don’t remember any discrimination case during my career.

I would describe my journey as a learning and fulfilling one.

Meri Nikoghosyan Executive Director at VISTAA Expert Center

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Q: What challenges did you face when you were trusted the directorship of VISTAA Consulting?

A: When I was proposed the position of the Director of VISTAA, I was already working with the company for a couple of years. I knew the sector, knew the staff very well, was largely involved in the activities of the company. This, of course, made the transition very smooth ☺, though it does not mean that there were no challenges. On the contrary, the company was facing financial hardships at that moment and taking the responsibility to overcome that period was a real challenge. First, I diversified the services our company was offering in the market. That spared some financial sustainability and a new niche in the market. The following years we had quite good dynamics, which I hope will be continuing.

Q: How would you describe your journey to the position of CEO, especially from the perspective of being a woman?

A: Never thought about it from that perspective. Maybe, I am a lucky person in the sense that I have never experienced discrimination while considered for my position. Moreover,

Q: Your view on women in leadership.

A: To my view any person is first of all a human regardless of the sex and I try not to judge people based on sex. I am not talking about equality. I just see that both men and women can be successful either in business, politics, art, or farming. However, I would separate female leaders in politics.

With the age, I am more and more inclined to think that the humanity will succeed more with female leaders.

And it is not only about high officials but also other decision-makers at any level. Women are mothers by nature and their sense of responsibility is mostly derived from the interests of their children. They would eventually change the world’s political agenda gradually bringing to the end of the wars and hunger, reaching better livelihoods, social justice and happy societies.

Q: Where do you see VISTAA Consulting moving to?

A: VISTAA delivers solutions focusing on the agricultural sector. We are an agent of change, our activities are aimed at unlocking potential sources of development, discover new ideas and create well-developed, realistic and efficient innovation agenda that would serve to the development of Armenia towards a prosperous and flourishing country. In this context, our target is the entire agricultural value chain, where the most important is the small farmer group who produces high-quality agricultural products.

Q: Do you have a role-model that inspires you?

A: I don’t know whether it is good or not, but I don’t have a role-model.

However, in different phases of my development and growth as an individual and a professional, I admired and have been inspired by many people. I am a member of the Central Eurasian Leadership Alliance (CELA) which covers 10 countries (Caucasus, Central Asia, Afghanistan and Mongolia), which in its turn is part

of a global network covering the Middle East, Southeast Asia and the US. The membership is an invaluable source of motivation and inspiration for me as it gives me an opportunity to meet people of different nationalities, backgrounds, religions, positions and life experiences.

Q: What do you do during your leisure time? Any hobbies?

A: I don’t have constant hobbies ☺. It depends on the season, on the mood and on the company ☺. I love traveling, both in the country and outside. There was a time I was reading much for pleasure, now I am mostly reading for work. In general, I am a very active person. I also love spending wine evenings with friends, watching movies and some series on Netflix ☺.

Q: What are the lessons learned from your professional career?

A: The team, the professionals with whom you deal are the guaranty of your success. You should always treat them fairly. This creates devotion and full engagement, which eventually provide your company’s reputation, growth and sustainability. Similarly, you interact with your partners and clients having in mind that in other situations the role changes and you become someone’s client/partner and you always expect that you are treated with fair and open rules of the game. The win-win combination is the most preferred outcome in any relationship, project, transaction, initiative.

Q: Your biggest achievement.

A: Personal contacts and relations I gained during my career are the biggest and most important values for me.

As a professional I am proud of the Ruban D’Honor award that VISTAA received for the business success from the European Business Awards in Paris, France during my directorship.

Q: Please, describe yourself in 3 words.

A: Determined, dedicated, loyal.

AMCHAM BOARD MEMBER OF THE MONTH: AMCHAM VICE PRESIDENT MR. AHARON LEVONYAN Please meet Mr. Aharon Levonyan who has been serving as AmCham Second Vice President / Treasurer since 2017.

Aharon Levonyan is a senior executive with extensive operational experience in finance and banking, financial technology, communications and hospitality.

Mr. Levonyan is the Chief Financial Officer of Seraphim Consulting LLC. He is responsible for the company’s financial strategy and development, planning and control functions. The company services include financial and tax advisory, business project development and management, accounting outsourcing and legal services.

Before joining Seraphim Consulting LLC, he was the CEO of Cascade Bank, successfully closing M&A (mergers and acquisitions) transactions in Armenia and Georgia. Mr. Levonyan was one of the investors of the IDRAM payment system and led the company’s transformation to a new level. Currently, he is the Chairman of the UPAY payment system.

He greatly enjoyed the years of being a visiting professor at the French University in Armenia and at the Armenian State University of Economics. He hopes to return to academic career upon having sufficient free time.

He was awarded Ph. D in Economics in 2002 and has two MBA degrees from the Columbia University and the London Business School.

Mr. Levonyan’s enjoys playing squash while relaxing. He also likes traveling and reading. Given his busy schedule it’s becoming hard to spend leisure time with his family very frequently, though he greatly enjoys it.

UNDP ARMENIA JOINTLY WITH UN WOMEN GEORGIA IMPLEMENTS ORIENTATION TRAINING ON WOMEN EMPOWERMENT PRINCIPLES (WEPS) On 1st March, 2019 the orientation training on Women Empowerment Principals (WEPs) have taken place, which was the first in series of capacity development events conducted with the active involvement of the 32 representatives of the private sector in Armenia with the overall goal of integrating the Women Empowerment Principles in the framework of the “Women’s Economic Empowerment in South Caucasus” (WEESC) Project.

The main priority of the WEPs is to support the private companies in adoption of UN Women/Global Compact Women’s Empowerment Principles-Equality Means Business. The event has served as a platform for private companies to present their own adopted ways and well-functioning mechanisms of engagement of women with diverse needs into their employment and benefits systems as well as to exchange their vision and best practices in implementation of Global Compact Women’s Empowerment Principles.

AMCHAM GM BREAKFAST MEETING AT IBIS YEREVAN CENTER On 21 March 2019, AmCham held GM’s breakfast meeting, during which a limited number of General Managers had a discussion on business environment in Armenia. AmCham hosted the executives of Ernst and Young CJSC, AMF Fincancial Consulting, EcoVille LLC, Hitegrity LLC & Intellcores Ltd/Hylink JSC, IBIS Yerevan Center, Enterprise Rent-A-Car/J.M.S LLC, Armenian Tree Project Charitable Foundation (ATP). AmCham board members representing ContourGlobal Hydro Cascade CJSC, Ameria Group of Companies, U.S. Embassy were present at the meeting.

DID YOU KNOW? World Water Day World Water Day is celebrated annually on March 22. It was declared by the United Nations General Assembly in 1993. It highlights the importance of fresh water.

World Water Day is celebrated around the world with a diversity of events. There are some events which include campaigns to raise money for water projects. The purpose is to inspire people around the world to learn more about the issues which are related to water.

Armenia is famous with its water which is so clean that you can just open the tap and drink it without boiling or filtering.

Armenians value the water so much that they even wrote a song in its honor. During old times, young water sellers were walking with jugs on their shoulders and were selling cold, clean water to people who passed by and were singing the popular “water” song. In Armenia, there is also a sculpture “Water Seller”, in remembrance to the boy who was selling water.

AMCHAM BE MY GUEST WITH OPTYM ARMENIA On 29 March, 2019 AmCham held its regular “Be My Guest” event - this time with Optym Armenia LLC. Optym is a global company based in the United States, which is specialized in decision automation and optimization systems. The company has been operating in Armenia since 2007 and became an AmCham member in December 2016. The event was held in the evening at their Yerevan headquarters to both engage and entertain AmCham’s member companies. Designed to be a fun networking event, the night began with a tour around their headquarters. The guests learned about company’s background, values and culture. Mr. Artyom Baghdasaryan, Optym Armenia Operations Manager delivered a presentation on the company’s current operations where guests were encouraged to ask questions. After the formal part guests were treated with snacks and drinks as well as enjoyed playing table tennis and table football games.

HEALTH INSURANCE FOR THE ASSOCIATES OF ARMENIA MARRIOTT HOTEL YEREVAN

In the frames of Take Care Activities Armenia Marriott Hotel Yerevan is happy to announce that as of March 2019 all Our Associates have their Health Insurance. The well-being of our associates is very important to us, since we believe a healthy and happy associate will do their best to make guests happy.