For a Better Business Environment
MONTHLY MONTHLY N1
№11 NEWSLETTER NEWSLETTER
American Chamber of Commerce in Armenia AmCham is an independent business association operating in Armenia since 2000. AmCham represents the interests of more than 100 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, 3rd floor, room 315, 317, Yerevan 0010, RA Email: info@amcham.am/ amcham@arminco.com Tel: (+374 10) 599 187 (+374 10) 599 902 Visit our page: www.amcham.am
PUBLISHED AND DESIGNED BY AMERICAN CHAMBER OF COMMERCE IN ARMENIA
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November 2017
AMCHAM MEETS WITH MINISTER COUNSELOR FOR COMMERCIAL AFFAIRS – EURASIA, U.S. DEPARTMENT OF COMMERCE On 2 November 2017, AmCham Leadership and selective AmCham members had a meeting with Mr. Michael Lally, Minister Counselor for Commercial Affairs – Eurasia, U.S. Department of Commerce. The participants discussed the business and investment climate in Armenia and areas/actions to attract U.S. investments into the country. Given that Mr. Lally closely works with AmChams in the CIS region, Armenia’s cooperation with other AmChams was also discussed.
FMCG COMPANIES MEET TO DISCUSS THE RECENT PROPOSED AMENDMENTS TO THE RA TAX CODE On 10 November 2017, AmCham had a roundtable discussion with Fast Moving Consumer Goods (FMCG) member companies, which had been sending several signals regarding the challenges/troubles they might get into with the proposed amendments in the Tax Code, in particular Article 62. Mr. Nerses Nersisyan, AmCham 1st Vice-President and representatives of legal departments of several FMCG companies were present at the meeting. The attendees expressed their concerns/feedback re proposed amendments and discussed possible solutions/suggestions. Given the legislative changes as well as Armenia’s commitment to adhere to EU standards in regards to recycling starting from January 2018, AmCham is planning to create a platform for FMCG companies. More to come on this in early 2018.
AMCHAM CONVENES ITS ANNUAL GENERAL MEETING On 17 November 2017, American Chamber of Commerce in Armenia held its consecutive Annual General Meeting at Opera Suite Hotel. The meeting was chaired by the AmCham President, Mr. Ara Hovsepyan. Among the presented and discussed issues were the achievements, development prospects of the organization, and its financial reports. Prior to the start of elections, the nominated candidates for the AmCham Board delivered short speeches on how they could contribute to the promotion of AmCham goals. The General Meeting reelected Mr. Ara Hovsepyan, the General Manager of ContourGlobal Hydro Cascade CJSC, in the office of AmCham President. Ms. Elina Markaryan, Public Affairs and Communication Director of Coca-Cola Hellenic Bottling Company Armenia, and Mr. Aharon Levonyan, the Chief Financial Officer of SI Holding, were elected to serve as the First and Second Vice Presidents, respectively. The General Meeting elected the new Directors as follows: Mr. Hayk Aloyan of Lydian Armenia CJSC, Ms. Irina Dumanyan of Mentor Graphics a Siemens Business, Mr. Paul Edgar of HSBC Bank Armenia, Mr. Karen Garaseferyan of Japan Tobacco International (JTI Armenia), Mr. Tigran Gasparyan of KPMG Armenia CJSC, Mr. Ashot Ghazaryan of the American University of Armenia, Mr. Gagik Gyulbudaghyan of Grant Thornton CJSC, Mr. Arthur Hovanesian of Synergy International Systems Inc., and Mr. David Sargsyan of Ameria Group of Companies. In 2018, AmCham will continue its efforts towards the protection of Intellectual Property Rights and the promotion of best business practices in Armenia, in particular Corporate Social Responsibility projects in the scope of AmCham’s Responsible Business Network. AmCham will also launch the establishment of impartial and unbiased Arbitration Court under the AmCham umbrella. Another AmCham goal for 2018 is to expand its cooperation with other AmChams in the region and Europe.
AMCHAM TOURISM AND HOSPITALITY MEMBERS MEET THE STATE TOURISM COMMITTEE On 27 November 2017, AmCham organized “tourism and hospitality” sectorial meeting with the RA State Tourism Committee – Ms. Zarmine Zeytuntsyan, President, and Mr. Mekhak Apresyan, the First Deputy. It was a follow-up meeting meeting to the one members had with the Committee in Spring 2017. The participants learned about the developments in and achievements of the Armenian tourism sector as well as discussed the impact of upcoming RA Tax Code on the sector, in particular that of VAT; recently established Tourism Development Foundation and its mission; as well as exhibitions Armenia plans to participate. AmCham will continue organizing sectorial meetings to engage respective stakeholders into constructive dialogues and decision-making processes.
AMCHAM LEADERSHIP MEETS ARMENIA DESK OFFICER AT THE U.S. DEPARTMENT OF STATE On 28 November 2017, AmCham leadership had a meeting with Ms. Marina Grayson, Armenia Desk Officer at the U.S. Department of State, and Mr. Raphael Sambou, Commercial and Economic Officer at the U.S. Embassy in Armenia. The purpose of the meeting was to introduce AmCham Armenia and its priority areas, to share business community concerns regarding business environment in the country, and to discuss potential solutions that would help the country to advance its economic development.