AmCham Monthly Newsletter №4 2019

For a Better Business Environment

American Chamber of Commerce in Armenia

MONTHLY â„–4 NEWSLETTER April 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.

PUBLIC HEARING ON EXCISE TAX APPLICATION On 5 April, 2019 The American Chamber of Commerce in Armenia (AmCham) and Union of Manufacturers and Businessmen of Armenia (UMBA) jointly organized a public hearing on the decision of the Government of Armenia to cease the provision on taxation on the nonalcoholic beverage and water sector within the Tax Reform initiative and expressed their willingness to lead and participate in the related public hearings and government working groups.

Coca-Cola Hellenic Bottling Company, as well as other AmCham members such as Jermuk International and Pepsi-Cola Bottler Armenia were also affected by this provision. AmCham president Mr. Ara Hovespyan (ContourGlobal Hydro Cascade) and vice-president Ms. Elina Makaryan (Coca-Cola Hellenic Bottling Company Armenia), Mr. Mikael Bonde Nielsen (Director of Economic Affairs of the Coca-Cola Company), Gevorg Papoyan (MP/Standing Committee on Economic Affairs), and Arsen Ghazaryan (UMBA president) were in the panel of the public hearing platform.

AmCham was honored to host Mikael Bonde Nielsen who shared the best practices on various taxes including the international experience on excise tax and recommendation on its effective implementation.

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 MEMBER PWC ORGANIZED A DISCUSSION ON TRANSFER PRICING REGULATIONS On 30 April, 2019 AmCham Member Companies participated in a discussion on transfer pricing regulations in the scope of the "Promoting better tax compliance" project.

The project is financed by the UK Good Governance Fund and is implemented

by PwC Armenia.

AMCHAM EXECUTIVE DIRECTOR MS. KARINE SARKISSIAN Dear Reader: It is a tremendous honor for me to be selected to serve as an Executive Director of the American Chamber of Commerce, the leading prestigious NGO in Armenia, especially, in the current very important times for Armenia where the AmCham continues to play a significant role. This appointment is even more pleasant as becoming the Executive Director is a sort of coming home. Since 2000, The CocaCola Company, where I worked, was one of the first members of AmCham and I served on the Board of Directors starting from 2013 for about 3 years.

I have the advantage of being one of the first graduates of the American University of Armenia, MBA’93. In 1994-95, I continued my study in the Master's Management program at the Northwestern University, Illinois, USA, as a winner of the Edmund S. Muskie Scholarship Program. Since then, I held strong leadership positions in such reputable companies in the private and public sectors as Austrian Development Agency, The Coca-Cola Company, Johnson Consumer Zug, United Nations World Food program. I am thrilled to contribute all my skills and expertise to bring the organization to a new level of development.

Taking this opportunity, I would like to express my appreciation to the former Executive Director Vanane Ararktsyan for her contributions and my gratitude to each and every AmCham Member Company for your strong support and extensive involvement in the mutual work and participation in Chamber events, programs and surveys.

My young and enthusiastic team and I are looking forward to working closely together to reach even greater heights in improving the business environment and our community.

Enjoy the reading!

INTERVIEW WITH THE MINISTER OF EDUCATION AND SCIENCE OF RA On April 19, AmCham Executive Body had a meeting with the Minister of Education and Science of RA, Mr. Arayik Harutyunyan for an interview in AmCham Business Magazine. The interview covered the different aspects of education in Armenia, its developments and challenges, as well as the future initiatives carried out by the Ministry. The entire interview will be published in the upcoming issue of AmCham Business Magazine to be published in June 2019.

Stay tuned!

AMCHAM GM BREAKFAST MEETING AT HYATT PLACE YEREVAN On 9 April, 2019 AmCham held their regular breakfast meeting with General Managers’ of AmCham member companies. This month the GM breakfast was held at the Hyatt Place Yerevan. A number of General Managers, including those from ContourGlobal Hydro Cascade CJSC, KPMG Armenia CJSC, ADWISE Business and Legal Consulting LLC, and UMAKS LLC/ DHL Express Armenia, Selena Service, QSI International School of Yerevan, BDO Armenia CJSC, Ericsson AB Branch Office Armenia, gathered to discuss issues related to business in Armenia and future AmCham plans. At this GM breakfast both board members and AmCham staff led the discussions.

DID YOU KNOW? World Intellectual Property Day On 26 April, people celebrate the International Intellectual Property Day, which allows everyone to engage and inspire, to innovate and unite everyone in pushing the boundaries of human achievement.

Every year, Intellectual Property Day is devoted to a topic. Thematic events, meetings of colleagues, campaigns that set themselves the goal. People organize such events to show how the system of intellectual property protection contributes to the development of many areas of progress: from art to innovative technologies.

The Republic of Armenia has been enrolled as a member of the World Intellectual Property Organization (WIPO) since 1993.

AMCHAM BE MY GUEST WITH ARMENIA TREE PROJECT (ATP) On 27 April, 2019 AmCham members were invited to a tree-planting event in the Aragatsotn region. This was a part of AmCham’s regular “Be My Guest” series where different member companies host other AmCham members for an event to promote their initiatives and projects. The Armenian Tree Project (ATP) is a Massachusetts-based non-profit organization dedicated to sustaining and improving Armenia’s biological diversity through education and re-forestry. ATP organized a tour and a lunch at their nursery in the village of Karin. Afterwards they were taken to a newly zoned plot of land to plant trees. These plants will help beautify the ATP supported newly established public park area in Ashtarak.

AMCHAM AND EY ARMENIA MEETING WITH MR. TIM VICKERY On 30 April, 2019 AmCham Armenia and its Gold Member EY Armenia, and European Business Association Armenia had a meeting with an independent expert Mr. Tim Vickery who has been asked by the EBRD to advise on the institutionalization of public-private dialogue platform between the government and the private sector to ensure a favorable business environment and enhance the investment climate.

WELCOME AMCHAM NEW MEMBERS!!!