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№6 NEWSLETTER NEWSLETTER
American Chamber of Commerce in Armenia
June 2018 AmCham is an independent business association operating in Armenia since 2000. AmCham represents the interests of more than 120 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. AmCham is a member of US Chamber of Commerce and European Council of American Chambers of Commerce. AmCham is pleased to have also British, French and other European companies as members.
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 10) 599 187 Visit our page: www.amcham.am
PUBLISHED AND DESIGNED BY AMERICAN CHAMBER OF COMMERCE IN ARMENIA
U.S. EMBASSY AND AMCHAM FOCUS ON SUPPORTING U.S. INVESTMENT IN ARMENIA On 1 June 2018, the U.S. Embassy in Yerevan, in partnership with AmCham Armenia and the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, organized a discussion focused on attracting U.S. investments to Armenia. The workshop specifically focused on how companies and investors can work with the Overseas Private Investment Corporation (OPIC) and featured visiting OPIC staff members who explained their efforts. A self-sustaining U.S. government agency that helps U.S. businesses invest in emerging markets, OPIC was established in 1971 to provide businesses with the tools to manage risks associated with investments in such economies. OPIC support for U.S. investment includes direct loan financing, political risk insurance, and support for emerging market private equity investment funds that invest in emerging markets. By fostering economic development in emerging market countries, OPIC advances U.S. foreign policy and national security priorities while helping emerging markets become active members of the international economy. For more information on OPIC, visit its website: https://www.opic.gov/. Opening the session at the Armenia Marriott Hotel Yerevan, General Manager of ContourGlobal Hydro Cascade and AmCham Board President Mr. Ara Hovsepyan welcomed the participants and highlighted the potential U.S. investors can find in Armenia. “OPIC is a key international lender and investments facilitator that we definitely want to see supporting many businesses and investments in the Armenian market,” he said. “At present, the country is opening its opportunities even wider for foreign investment, given the recent changes in the political scene. I think OPIC should be able to find worthy projects to invest in through lending. And AmCham is ready to be a partner for OPIC.” The event, attended by AmCham member companies, local business associations and Armenian government officials, was designed to support the deepening of the U.S.Armenia trade and business relationship. Over the past three years, U.S. Ambassador to Armenia Richard Mills, Jr., has made deepening that trade relationship one of his top priorities. And, in fact, U.S.-Armenian trade grew by nearly 42% last year.
THE CHAIRMAN OF AMCHAMS IN EUROPE VISITS ARMENIA On 5-6 June 2018, AmCham Armenia had a pleasure to host Mr. Patrick Mikkelsen, the Chairman of AmChams in Europe and the Executive Director of AmCham the Netherlands. During his two-day visit Mr. Mikkelsen had a very tight schedule meeting with AmCham Board, the Members of AmCham Community and exploring the beauty of Armenia. On the first day the special guest was hosted by Synergy International, AmCham Board Member Company, where he got acquainted with the company profile, networked with the CEOs of AmCham Members, gave a presentation on the mission and vision of AmChams in Europe (to learn more about AmChams in Europe follow the link here). Meanwhile the President of AmCham Armenia Mr. Ara Hovsepyan presented the business climate in Armenia, shared AmCham ongoing projects and upcoming plans. In particular he mentioned that this year AmCham Executive staff will participate to 2018 AmChams in Europe Best Practices Conference in Tel Aviv, Israel. This is aaaaaaaaaaaaa an important step towards a new level of opportunities for AmCham Armenia in terms of integration to the AmChams in Europe, the largest network of international chambers of commerce in Europe. During his visit Mr. Mikkelsen visited touristic sights of Yerevan, traveled to Garni, tasted Armenian food, wines and brandy. Lately, at the evening meeting with AmCham Board and Gold Members, the participants gave insights on doing business in Armenia for foreign investors, elaborated on the current situation in the country and the vision beyond. By the end of the two-day trip, Mr. Mikkelsen thanked the Board and the Executive team for the full agenda and hospitality.
AMCHAM GM BREAKFAST MEETING On 21 June 2018, AmCham was pleased to host AmCham GMs at the breakfast meeting at Paparazzi cafĂŠ. The executives of Golden Grape ArmAs, Schnider Electric, AN Audit, Paparazzi Group, Mentor Graphics a Siemens Business, Resolution Insurance Brokers were present at the morning meeting. As a non-member company, AmCham hosted the executives of ACBA-Credit Agricole Bank and Smart Choice. As always, the guests had a lively discussion on AmCham current activities and the business climate in Armenia.
AMCHAM BE MY GUEST WITH GOLDEN GRAPE ARMAS
AMCHAM HELD FAREWELL PARTY FOR MR. RAPHAEL SAMBOU, EX-OFFICIO MEMBER OF AMCHAM BOARD On 29 June 2018, AmCham Community held a farewell party for Mr. Raphael Sambou, the Economic and Commercial Officer at U.S. Department of State and the Ex-Officio Member of AmCham Board. Mr. Sambou has been serving on AmCham Board since 2016 and has become a dear friend with many Members of the Community. AmCham President Mr. Ara Hovsepyan thanked Mr. Sambou for his commitment, supportive and enthusiastic work in the Board and handed souvenirs to him. It was an emotional evening full of surprises, warm wishes and lots of fun. See the photos of the event on by clicking here.