AmCham Monthly Newsletter №5 2019

MONTHLY №5 NEWSLETTER for a Better Business Environment

May 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.

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

WELCOME EVENT: U.S. AMBASSADOR LYNNE M. TRACY POLICY SPEECH On 15 May, 2019 the U.S. Ambassador to Armenia, Lynne M. Tracy delivered her first Policy Speech on the AmCham platform. She outlined her vision on the U.S.-Armenia relationship and discussed the cooperation opportunities.

More than 180 attendees including AmCham member companies, RA government and National Assembly members, the U.S. Embassy in Armenia staff, international donor organizations, Media representatives and other honored guests participated in the event.

US Ambassador to Armenia Tracy noted that: • The United States has supported democratic processes and institutions in Armenia for the last 27 year.

• Since 1992, the U.S. government has provided more than 2 billion dollars in assistance funding to improve the lives of the Armenian people, supporting their efforts to strengthen democratic, economic, and social governance.

• In 2018, the United States provided $26.7 million in assistance funding to Armenia. But this does not tell the whole story, since so many of the assistance projects span multiple years. Right now, the total value of all the active USAID grants and contracts in Armenia is $66 million.

The U.S. Embassy will continue to engage the Armenian government and private sector as they pursue business facilitation efforts and demonstrate the very best of what U.S. companies have to offer: their world-class technology, unrivaled know-how, and highest standards of business culture.

The event was followed by a reception where guests had the opportunity to network and continue an off-the-record discussion on the themes presented by the Ambassador in her speech.

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AMCHAM BOARD MEMBER MR. HAYK ALOYAN Please meet Mr. Hayk Aloyan, who has been serving as an AmCham Board member since 2016. Mr. Aloyan was re-elected to AmCham Board for a two-year term in 2018.

Mr. Aloyan is the co-founder and Managing Director of Lydian Armenia 100% owned subsidiary of Lydian International Ltd. Along with a group of mining geologists from the UK, he participated in the discovery of Amulsar Gold deposit in 2006, the first mining discovery in Armenia after the collapse of the Soviet Union.

Since listing at Toronto Stock Exchange (TSX), Canada in 2008, Lydian International has attracted several well-known international institutional investors’ interest in Amulsar project. Mr. Aloyan alongside with Lydian International Ltd management team has participated in many international conferences and mining road shows, presenting Armenia and Amulsar project to the international investors.

Before joining Lydian, Mr. Aloyan also served as a Senior Researcher at the Geological Department of Mining and Metallurgical Institute and as a Deputy Chief Exploration Department in the Armenian at the Exploration Department in at thethe Armenian Mining and Metallurgical Institute.Mining and Metallurgical Institute.

Mr. Aloyan has PhD in Geology and MBA from Cambridge University Judge Business School, UK. He has 20 years of mining industry experience, is an author of several articles on Armenian metallogenesis. He is also a specialist in resource estimation with more than 30 research papers.

Mr. Aloyan is a dedicated surfer and skier; he also enjoys boxing and mountain biking as well as traveling and reading. ‘

AMCHAM BOARD AND MEMBERS MEETINGS WITH U.S. COMMERCIAL MISSION IN ARMENIA

On 6, 8 May, 2019 AmCham held two meetings with Mr. David Meale, Deputy Assistant Secretary (DAS) for Trade Policy and Negotiations of the U.S. Department of State, Mr. Michael Lally, the U.S. Department of Commerce’s Minister Counselor for Commercial Affairs in Eurasia, and Ms. Elizabeth MacDonald, Economic Officer, the U.S. Department of State, who were in Armenia to participate in the U.S. - Armenia Strategic Dialogue. During the meeting there was a discussion on the role of the Department of Commerce - through commercial diplomacy, trade counseling, market intelligence, and business matchmaking, the Department of Commerce supports the U.S. companies as they expand their operations in global markets.

During the session was noted the importance of the rule of law and maintaining a welcoming business environment to attract and retain investments in Armenia, also was stressed the engagement importance of the private and public sectors with an active and meaningful dialogue for the development of Armenia’s business climate. It was encouraged AmCham to consult the best practices of other AmChams in Europe to better establish priorities, define strategy, and articulate the private sector’s concerns and expectations of the government.

The following AmCham members participated in the meetings: ContourGlobal Hydro Cascade; Seraphim Industries/ SI; Lydian Armenia; Microsoft Armenia; HSBC Bank Armenia; Aregak UCO; Armenia Marriott Hotel; Ernst and Young (EY); FINCA Universal Credit Organization; JTI Armenia; Synopsys; American University of Armenia (AUA); Mentor Graphics a Siemens Business; Holiday Inn Express Yerevan; McCann Erickson; Pepsi-Cola Bottler Company; SEAF, Armenian Representative Office of SEAF management and VISTAA Plus LLC.

AMCHAM BE MY GUEST WITH MINEH PRINT On 31 May, 2019 AmCham held its regular “Be My Guest” event with Mineh Print. Mineh Print was established in 1999, so we also celebrated the 20th anniversary of the organization. The company has earned a reputation for providing customers with unique novelty and premium item solutions. During the event Mineh Print’s CEO Ms. Armine Sarkissian made a short presentation on the Mineh high quality products and services: silk screen printing, tempo printing, laser marking, cutting and engraving, hot stamping, promotional items, digital printing.

Representatives from AmCham member companies enjoyed their Friday Night tasting snacks and refreshments as well as established a new ground for future cooperation with Mineh.

Mineh Print is an AmCham proud member since 2006.

MOU WITH SME DNC OF ARMENIA On 10 May, 2019 AmCham Armenia and Small and Medium Entrepreneurship Development National Center of Armenia (SME DNC of Armenia) signed a Memorandum of Understanding (MoU) aimed on the development of small and medium enterprises in Armenia.

Both parties are excited about this new cooperation and support to SMEs for better business practice sharing opportunities and consultations.

DID YOU KNOW? World No Tobacco Day World No Tobacco Day is celebrated every year on May 31 by World Health Organization (WHO) and its international partners. With the help of annual campaign, WHO raises awareness about the detrimental effects of tobacco use and secondhand-smoke exposure on society’s health. This year, the campaign was focused on “tobacco and lung health”.

Following the global trend, the Republic of Armenia Ministry of Health is taking an action on imposing a stricter law and regulations on smoking in public places, both outdoor and indoor.

BREAKFAST MEETING WITH CHAMBERS AT HOLIDAY INN EXPRESS YEREVAN On 10 May, 2019 AmCham Armenia initiated a business breakfast meeting with the leaders of its partner chambers: The Chamber of Commerce and Industry France Armenia (CCI FA), Union of Employers of Information and Communication Technologies (UEICT), Business Support Office, European Business Association (EBA), German Business Association in Armenia (Deutscher Wirtschaftsverband in Armenien - DWV). The AmCham VicePresident, U.S. Embassy Ex-Officio Board Member, the AmCham Exe Team and General Manager of Holiday Inn Express Yerevan were also present at the meeting.

The objective of the meeting was to discuss a new framework for cooperation between the chambers and to develop joint actions on improving the overall business environment to be attractive for foreign direct investments.