Monthly №4 Newsletter 2017

For a Better Business Environment

MONTHLY MONTHLY N1

№4 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) 587 651 Visit our page: www.amcham.am

PUBLISHED AND DESIGNED BY AMERICAN CHAMBER OF COMMERCE IN ARMENIA

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April 2017

AMCHAM MEETS IMF MISSION TEAM In the scope of the review of IMF Program in Armenia, on 7 April 2017, IMF Mission Team led

by Mr. Hossein Samiei, IMF Mission Chief, and Ms. Teresa Daban Sanchez, IMF RR in Armenia, met AmCham members to discuss business climate issues in Armenia focused on structural barriers. IMF press release that concludes the 5th and final review of the IMF Program in the country can be found at the following URL: here.

AMCHAM INTERNAL ADVOCACY MEETING On 7 April 2017, AmCham organized an ad-hoc advocacy meeting by gathering several representatives of law firms and audit companies with the aim to support one of AmCham members in tax related issues. AmCham stands ready to address members’ concerns by bringing together the expertise AmCham membership base has.

AMCHAM RBN SPEED DATING EVENT MATCHES CORPORATES AND NGOS On 10 April 2017, within Responsible Business Network (RBN) initiative, AmCham held a firstin-kind speed dating event at Radisson Blu Hotel Yerevan. During the event, AmCham member NGOs had the opportunity to present their projects to the corporates for potential implementation.

The event was unique on its own that accelerated the business contracts and expended further the participants’ network. AmCham team is gathering the final project proposals developed by NGOs and will start the matchmaking of the corporate and NGO representatives. AmCham will provide visibility for all initiated and completed projects down the road.

THE U.S. AMBASSADOR TO ARMENIA MEETS WITH AMCHAM BOARD U.S. Ambassador to Armenia Richard Mills, Jr. has made deepening the U.S.Armenia business and trade relationship one of his top priorities. On 14 April 2017, the Ambassador held the first of four quarterly meetings this year with the Board of the American Chamber of Commerce in Armenia. The meeting was an opportunity for the Ambassador and key members of the Armenian business community to exchange views on a wide range of topics, including tax and customs legislation and administration; investment climate in the country; and potential joint projects between the U.S. Embassy and AmCham. Also, the AmCham Board had an opportunity to update the Ambassador on AmCham’s on-going and planned advocacy efforts.

FRIDAY NIGHT AT PUB 37 On 14 April 2017, AmCham held a Friday Night event at Pub 37, where guests were treated to some high-end beer (only offered at Pub 37) and tasty appetizers. This created an excellent networking opportunity, where the representatives of AmCham member companies had a chance to meet each other and expand their “rolodexes.” Moreover, this event was also filled with some “brain exercise” opportunity, allowing the guests to participate in a pop-quiz game. Two winners received a free half-page advertisement in AmCham monthly newsletter.

AMCHAM “BE MY GUEST” SERIES COMMENCED AT CIS ARMENIA On 22 April 2017, AmCham kicked-off its “Be my Guest” series and the first host of AmCham community was the Cambridge International School Armenia. The invited guests had the opportunity to see the school premises, receive comprehensive information about the school, curriculum, and different educational programs, as well as network over a nice fourchette. Moreover, the school’s talented and exceptional teachers prepared a separate introduction session for AmCham member “kids” that accompanied their parents. CIS Armenia is glad to have hosted the event, specifically due to the gathered feedback and exceptional reviews.

WORLD INTELLECTUAL PROPERTY DAY On 26 April 2017, the U.S. Embassy in Armenia, Microsoft Armenia, and AmCham celebrated World Intellectual Property Day by organizing a one-day conference focused on the challenges and benefits of strengthening the protection of intellectual property in Armenia. “Strong intellectual property rights protection mechanisms spur innovation and job creation; help turn innovative ideas and creative designs into valuable business assets; promote public health and safety by combating fake goods; and are integral to the rule of law and good governance,” said U.S. Embassy Chargé d’Affaires, Mr. Rafik Mansour, who opened the session by stressing the benefits afforded to innovation and economic development by strong IPR protection. The official part of the meeting was followed by a reception, where AmCham members and representatives of government officials had an opportunity for networking. Based on preliminary discussions, AmCham will lead the IPR Working Group that will serve as a platform to communicate the business voice to the Armenian Government on IPR related issues.

INTERVIEW WITH… Being able to bring all this diversity, knowledge, and expertise from around the world to our market is not only exciting, but also very rewarding and fulfilling for me as a professional and as an Armenian.

Q: It has been already 10+ years that Microsoft operates in Armenia. What is the unique value that Microsoft brings to our country and how has it transformed over the course of the last 10 years?

Liana Korkotyan Country Manager at Microsoft Armenia

Q: You have a strong record of work experience with international donor organizations and management consulting firms. What is that different to be in a technology firm?

A: It is true that I come from a different industry - for around 15 years I worked with international development consultancies and donors such as USAID, Accenture and the World Bank. My specialty was working with Small and Medium Enterprises (SMEs) in emerging economies. While I enjoyed my various roles and the sense of purpose that came with them, I felt I was becoming too comfortable with what I was doing, and needed to challenge myself professionally.

Moving to the world of technology was the ideal challenge. What amazes me constantly about being in this role is the appreciation of the endless possibilities that the development of technology brings with it. Plus, the industry is much faster-paced, which is something I truly enjoy!

Q: Microsoft Corporation is transforming globally – what is all the buzz about A: Right now, is such an exciting time to be with Microsoft. The company is indeed transforming, which is reflected in our products, services as well as our renewed commitment, to the point of obsession, to our customers. Microsoft is a leader in digital transformation – we stand alongside Governments and Businesses helping them succeed in the 21st century, during this critical time that we call the 4th Industrial Revolution.

Our productivity tools and cloud services combined with worldwide expertise and scale makes us unique in this field.

A: There are really two parts to this question – the first is, as mentioned earlier, we help businesses, individuals and the Government jump on the train of digital transformation by offering our software and services along with our continued support and assistance at this critical and decisive time. Being represented in the country allows us to build strong customer relationships and advise them on the right choice of technology and provide ongoing support, something that would be difficult to do without a local presence. The second part is our ultimate desire to be a “Good Citizen” of Armenia – so we do a lot of work with the Government as a trusted advisor in the areas of Education, Public Safety and National Security, SME and Start-up Ecosystem Development and others, by bringing our knowledge and experience from over 100 countries where we operate.

With regards to Microsoft Armenia’s transformation, I believe that we have just entered a new fascinating chapter – we value our relationships with our customers as ever and their satisfaction is #1 on our list of priorities. We have a small but growing team of dedicated and passionate professionals (there are 9 of us now), we have a newly renovated office in the heart of Yerevan (by the way, everyone is welcome to drop by for a coffee anytime) and a new Microsoft sign illuminating nighttime Yerevan that we are very proud of!

Q: On 26 April 2017, Microsoft Armenia in cooperation with the US Embassy and AmCham held an event on “Economic Case for Strong Protection of IP Rights in Armenia.” What are the key steps that private and public sectors should take to have an effective and enforceable IP system?

A: As one of the world’s largest software producers, Microsoft feels strongly about Intellectual Property Rights protection in countries where we operate. And Armenia is no exception. Unfortunately, according to the latest study conducted by the Business Software Alliance, the software piracy rate in Armenia is 86%, which is the highest in our region. This number is indeed very concerning and in my personal opinion is detrimental to attracting foreign investment to the country.

The good news is that we have strong legislation and dedicated government Agencies that are committed to making IP protection a priority in our country. Having said this, the role of the private sector is also critical in strengthening IP Protection in Armenia. To that end, together with our co-organizing partners we were proud to hold this event, the first of its kind, to bring all stakeholders together, and understand the issues and opportunities Armenia is facing on IPR related matters. I believe the event was a resounding success with the key outcome being the creation of a working group with Public and Private sector representatives that will drive the IPR agenda and further improvements for our country going forward.

Q: How does it feel to work for one of the biggest tech companies in the world and be able to manage it all: work, family, and hobby of playing tennis?

A: Tough at times. Fun most of the time. Frankly speaking, I have been living at this pace for so long now, that I don’t think I can imagine my life slowing down even for a single bit. In fact, there were times when in addition to work and family I was also juggling grad school (of course no time for hobbies then) – so things are easier now. Work-life balance is important in our world today. My own recipe is to be fully committed to what you are engaged in at that given moment– so, if I am at work I am 100% consumed with it, but when I am home with my kids, I try to disconnect from work and focus on the time I spend with them. And of course, spending time with good friends is priceless.

Q: Any words professionals?

of

wisdom for young

A: To me a big part of the success in one’s career is the positive can-do attitude and immense amount of hard work. My advice is, no matter the circumstances, even if you believe that no one is going to be looking at your work, always give your 100% to produce the best work you possibly can. Take pride in what you do no matter how big or small because someone at some point will see the work you’ve produced, and they will judge your professional qualities based on this work.

I always tell my kids and my team to shoot for the moon, so if they fail, they land among the stars. Never be afraid of crazy ideas, even if initially they seem unrealistic. There will be people who will try to discourage you along the way, with a million reasons why something is not possible or it won’t work. Never listen to that “noise” and always, always believe in yourself!