Wednesday, May 18 2016 09:59

 US business should serve as model of successful management with no corruption elements for Armenia; US Ambassador to Armenia Richard Mills expressed this opinion during Armenian-US business forum which was held on May 18 in Yerevan. 

The ambassador noted that there is corruption in Armenia and consequently the US representatives should take this into consideration to clearly realize what experience they intend to implement in Armenia. The ambassador also mentioned that the market participants should work jointly particularly attracting partners from mass media, management, public and private sector. 

The Ambassador Mills noted that representatives of the US private sector arrived in Armenia within the forum aiming to study the Armenian market and establish contacts for further cooperation. In this context the Ambassador informed that US businessmen from energy and IT fields, engineering and architecture sectors are attending the meeting. 
"Reliable partners are critical for building durable and lasting business ties, for implementation of mutually beneficial projects and for making long-term investments.  Events like this are a serious boost for further strengthening of economic cooperation, identifying new opportunities for businesses and opening up new markets," said Economy Minister Minasyan. "I am convinced that this new round for development of Armenian-American relations will encourage closer and more effective cooperation between Armenian and American business communities and facilitate establishment of mutually beneficial business ties and identifying new areas of partnership". 

The economy minister also informed that the ministry is going to make amendments in investment policy and legislation. He also called to combine efforts for fighting corruption and monopolies expressing hope that the US embassy and international financial organizations will provide assistance in this issue. 
To note, the U.S. Embassy in Yerevan, the American Chamber of Commerce in Armenia, the Armenian Ministry of Economy, and Converse Bank, organized a one-day business conference focused on investment opportunities in Armenia for U.S. businesses.  The one-day program featured presentations by the Ministry of Economy and other Armenian Government officials, the Central Bank of Armenia, Armenia's stock exchange, EBRD, IMF and the Asian Development Bank.