On Friday, April 25, AmCham Board of Directors hosted the U.S. Congressmen visiting Armenia, namely Ed Royce, the Representative from California and Chairman of the Foreign Affairs Committee with a spouse, and Lois Frankel, Representative from Florida. U.S. Ambassador to Armenia, John Heffern and U.S. Embassy Economic and Commercial officer Elizabeth Hanny also participated in the AmCham organized breakfast meeting.
Congressmen were interested to hear about the economic situation in Armenia, including challenges and, most importantly, opportunities. AmCham Board Director Ararat Ghukasyan of Byblos Bank presented economic and investment climates in Armenia. Other Board Directors talked about their respective sectors, namely banking, financial services, information technologies, consumer goods, etc. The potential ways of strengthening some investment platforms between U.S. and Armenia were discussed, such as increasing the volumes of Diaspora investments to Armenia. Other topics related to tax and customs systems, education system, judicial system and the rule of law.
AmCham Board stressed the point that even though there are still challenges in the business climate in Armenia, the country is open for and looking forward to the U.S. investment viewing it as the opportunity for economic growth. AmCham CEO mentioned that the largest ever U.S. investment in Armenia was made just recently in the Armenian energy sector by the U.S. Contour global company, proving that irrespective of challenges there are unexplored investment opportunities for the U.S. businesses.