AmCham Monthly Newsletter №6 2019

MONTHLY â„–6 NEWSLETTER for a Better Business Environment

June 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 the US-Armenia business relations and improve the 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

AMCHAM ARMENIA AND USAID JOINT MEETING-DISCUSSION On 26 June, 2019, AmCham board members and representatives from AmCham member companies had a meeting with USAID experts at DoubleTree by Hilton Yerevan.

During the meeting, senior economists and experts from USAID conducted an Inclusive Growth Diagnostics in the format of small group discussions with different sectors such as consumer goods, IT, NGO, banking, consulting, etc.

The AmCham Armenia and USAID joint meeting-discussion was a step towards developing a new Country Development Cooperation Strategy for Armenia.

MEETING WITH USAID EXPERTS On 5 June, 2019, the general managers of AmCham member companies had a meeting with USAID experts at Ramada Hotel & Suites by Wyndham Yerevan, Armenia. During the meeting, the participants discussed issues concerning the Hi-tech, tourism, and agricultural sectors in Armenia.

Two USAID experts, representatives from AmCham member companies and the US Embassy participated in the discussion. The experts aimed to get the private sector perspectives to be able to assist the RA Government in developing strategies to seize the opportunities and find solutions to the problems in the sectors supported by USAID.

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 optimism, diligence and persistence, Ms. Irina Dumanyan has become the Chief Executive Officer at the Mentor Graphics a Siemens Business.

At Mentor Graphics Ms. Dumanyan has started her career as an HR Manager since 2005 and throughout the years she was promoted to a Chief Executive Officer in 2017. The company is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world’s most successful electronics and semiconductor companies.

Before joining Mentor Graphics, Ms. Dumanyan was Human Resources Manager at the EPYGI Technologies LTD and a Project Coordinator at the Armenian General Benevolent Union Medical Center (AGBU).

Ms. Dumanyan has a master’s degree in English & French Languages, Interpretation/Translation from the Yerevan State Linguistic University.

During her career Ms. Dumanyan facedher obstacles and resistance sheobstacles truly believes that in ourand society During career Irina Dumanyanand faced and resistance she there truly is a prejudice towards the female leaders.

Being leader is not believes that ainwoman our society there is aso 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.

Irina Dumanyan

DID YOU KNOW? World Day Against Child labor Since 2002, June 12 is marked as the World Day Against Child Labor by the International Labor Organization (ILO).

ILO aims to focus the world’s attention on the extent of child labor usage and the measures to eliminate it.

The theme of 2019 Anti-Child Labor Day was, “Children shouldn’t work in fields, but on dreams!”

In Armenia, the child is under the care and protection of society and the state defined by the Law of the Republic of Armenia. The Law of the RA on the Child's Rights adopted by the National Assembly on May 29, 1996.

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AMCHAM STRATEGY SESSION On 22-23 June, 2019, the AmCham Board, Executive Team and the former AmCham President met to discuss the AmCham Strategy for 2019-2022.

The Provost of the American University of Armenia Dr. Randall Rhodes had kindly agreed to facilitate the strategy meeting on a pro bono basis.

The strategy paper was developed and shared with all AmCham members for their review and recommendations.

AMCHAM GM BREAKFAST MEETING AT RADISSON BLU HOTEL YEREVAN On 11 June, 2019, AmCham held another Breakfast Meeting at Radisson Blu Hotel Yerevan.

During the meeting, Ameria Group Inc.’s Partner, Development Director, Head Management Advisory Mr. Tigran Jrbashyan, number of General Managers and other representatives from Contour Global Hydro Cascade, CocaCola Hellenic Bottling Company Armenia, Jermuk Group, Energy Invest Holding, Schneider Electric, Radisson Blu Hotel Yerevan had a discussion on the ADB (Asian Development Bank) funded and Ameria led Export and Innovation - Led Industrial Development – Industrial Policy and Results Framework project for the Ministry of Economic Development and Investments in order to develop an Industrial Strategy and Results Framework, which will focus on boosting the Armenian manufacturing sector.

The discussion focused on “unicorn industries” including how to manage the Productivity Mapping, Enterprise Survey, and International Comparative Analysis.

BE MY GUEST WITH HYATT PLACE YEREVAN On 21 June, 2019, AmCham held its consecutive “Be my Guest” event, this time with Hyatt Place Yerevan. The event took place in Hyatt’s Summer Terrace. The evening began with a short hotel tour and a presentation on Hyatt brand, after which the guests enjoyed tasty snacks and cocktails, good music by DJ Ego, and an ongoing Graffiti Workshop. At the end of the evening, all the guests played a mobile quiz with gifts for the winners .

Hyatt Place Yerevan is that welcoming place, where guests can find uncomplicated experience in a casual atmosphere. This a world of a Different Place. Authentic Hospitality. Modern and Comfy.

Welcome to Hyatt Place.

ARMENIA-GEORGIA BUSINESS FORUM IN DILIJAN On 28 June, 2019, Armenia-Georgia Business Forum jointly organized by the Ministry of Economic Development and Investments (MEDI), the Georgian Government and the local Armenian and Georgian Chambers of Commerce and Industry took place in the Dilijan Training and Research Centre, Central Bank of Armenia.

AmCham 19 member companies had a great opportunity to meet the Georgia Government Representatives and business community reps for cooperation opportunities.

TRANSFER PRICING: UPCOMING CHALLENGES AND NEW OPPORTUNITIES AmCham Armenia in cooperation with its member Deloitte Armenia organized a seminar on “Transfer Pricing: Upcoming Challenges and New Opportunities�. The seminar was led by Mr. Alexey Sobchuk, who is the Director in transfer pricing group at Deloitte CIS. Before joining Deloitte, Alexey worked as Deputy Head of Transfer Pricing and International Cooperation Department of the Russian Federal Tax Service.

The seminar hosted representatives of various business spheres. During the seminar the experience and peculiarities of several countries were discussed, as well as examples of court cases related to the sector were presented.

GRAND OPENING OF FIAT CHRYSLER AUTOMOBILES GROUP On 29 June, 2019, Fine Cars of Armenia, the official distributor in leadership of Mr. Michael Aghili, the Chief Executive Officer of Fine Cars of Armenia presenting Fiat Chrysler Automobiles Group (FCA) proudly introduced its brand-new showroom showcasing Alfa Romeo, Jeep, Fiat, Fiat Professional, Chrysler, Dodge, and Ram in Armenia for the first time.

Fine Cars of Armenia is the largest multi brand showroom in the Caucasus region providing the finest in the automotive industry. Brand leaders in quality, craftsmanship and performance are presented in five continents securing top positions and customer satisfaction.

AmCham Armenia took the pleasure to cordially invite all AmCham members to the grand opening ceremony of its member company Fine Cars of Armenia.

The event started with the welcome speech after which the guests enjoyed the showroom and the great entertaining program.