Meeting of the Standing Committee of

March 13 Financial Credit and Budgetary Affairs at RA NA

On March 13, 2023, AmCham Executive Director Lilit Gevorgyan and the President of the Association of Credit Organizations of RA (ACORA) Luiza Igraryan, were invited to participate in a meeting of the Standing Committee on Financial-Credit and Budgetary Affairs at the National Assembly of Armenia. One of the agenda items was the amendment to the RA Law on Currency Regulation and Currency Control. The position of AmCham members regarding the proposed draft and the potential risks were presented during the committee meeting.

UEICT: Representatives of Armenian Business Associations March 14 meet Mr. Babken Tunyan and Ms. Anahit Avanesyan

On March 14, 2023, the members of AmCham WG on Comprehensive Health Insurance and representatives of UMBA participated in the joint meeting with Mr. Babken Tunyan, the Deputy Chair of the Standing Committee on Economic Affairs, and Ms. Anahit Avanesyan, the Minister of Health of RA. The meeting was initiated by UEICT, as the follow-up of the joint Press Conference on 03.02.2023.

AmCham Board and Gold Members meeting March 15 Mr. Tigran Khachatryan, RA Deputy Prime Minister

On March 15, 2023, Mr. Tigran Khachatryan, the Deputy Prime Minister of RA hosted the AmCham Board and Gold members at the RA Government. The meeting started with the presentation of macroeconomic indicators for 2022, the country’s economic growth and fiscal policy in Armenia by Mr. Khachatryan.

After the presentation, Mr. Ashot Hovanesian, the AmCham President asked the Deputy Prime Minister to discuss several topics of concern of AmCham members, namely:

• Comprehensive Health Insurance initiative

• Difficulties of export-oriented companies due to the exchange rate fluctuations

• Progress on the “Extended Producer Responsibility” initiative and the pilot

• Government policy regarding repatriates/relocated people

• Impact of the Russia-Ukraine War on the Armenian Economy

• Reforms targeting attraction of foreign investment

The Deputy Prime Minister answered these questions in detail, providing insight into government policies and initiatives aimed at addressing these concerns. He acknowledged the challenges faced by the private sector and stressed the importance of data-driven decisions and productive collaboration between the public and private sectors.

Mr. Khachatryan assured the attendees of the Government’s commitment to promoting a favorable business environment and addressing the challenges faced by foreign investors. He also expressed his willingness to work closely with AmCham/private sector to identify and address specific issues.

THANK YOU to AGM 2023 Gold Sponsors!

On 23 March 2023, the American Chamber of Commerce in Armenia (AmCham) held its General Meeting (AGM), one of the AmCham’s benchmark events taking place every two years. The meeting was chaired by AmCham President Ashot Hovanesian.

The AGM was attended by H.E. Ms. Kristina Kvien, U.S. Ambassador to Armenia, Extraordinary and Plenipotentiary. Ambassador Kvien addressed the AmCham community, highlighting the strong partnership between the United States and Armenia and outlining her economic priorities in Armenia.

The Deputy Prime Minister of the Republic of Armenia, Mr. Mher Grigoryan and the Minister of Economy of the Republic of Armenia, Mr. Vahan Kerobyan delivered their opening remarks. The Deputy Chair of the Standing Committee on Economic Affairs of the National Assembly of the Republic of Armenia, Mr. Babken Tunyan, and the Deputy Minister of Finance Mr. Arman Poghosyan also attended the event.

During the AGM, the report by AmCham Armenia was presented, including the execution of 2021-2023 AmCham strategy, activities, and financial standing as well as the outline of organizational priorities and plans.

The biennial election of the Board of Directors also took place at the AGM. Prior to the election, nominated candidates had an opportunity to deliver short remarks on their vision and how they intend to further contribute to AmCham’s strategic goals.

AmCham’s Board of Directors, including President, two Vice Presidents, and nine Board Members have been elected for two-year term, commencing in 2023.

Ms. Elina Markarian, Corporate Affairs & Sustainability Director, Coca-Cola HBC has been elected as the President of the American Chamber of Commerce.

Ms. Irina Seylanyan, CEO, HSBC Bank Armenia, and Mr. Karen Garaseferyan, Corporate Development Lead, JTI Armenia were elected to serve as the First Vice President and Second Vice President/Treasurer, respectively.

The General Meeting also elected the 9 Directors, as follows:

• Mr. Tigran Jrbashyan, Director of Management Advisory Services, Partner, Ameria

• Mr. Nerses Nersisyan, Partner, Head of Tax and Legal, KPMG Armenia

• Mr. Dagen Valentine, Country Director, American Councils for International Education

• Mr. Gagik Gyulbudaghyan, Managing Partner, Chairman of the Board, Grant Thornton Armenia

• Ms. Irina Dumanyan, CEO, Siemens Industry Software

• Mr. Ashot Hovanesian, Founder & CEO, Synergy International Systems

• Ms. Viktoria Poghosyan, Manager External Affairs, Philip Morris Armenia

• Mr. Varoujan Avedikian, Managing Partner, TK & Partners Legal and Advisory

• Mr. Gevorg Goyunyan, CFO, American University of Armenia