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Business Armenia reports record breaking export contracts in 2018
2019-02-01 11:26:59

Business Armenia secured a record breaking 6.8 Billion AMD export contracts last year, the foundation said in its 2018 activity report to the board of trustees.

According to the report, for a single 1 dram spent, 26.4 drams were received. With the support of Business Armenia, 116 Armenian companies participated in 10 international exhibitions, finding major international buyers.

In 2018, the index of (re)investments have also improved: around $21.1 million in contrast with the last year’s 15, and 0 of the proceeding. Business Armenia team has met with nearly 392 potential investors last year for conferences, outreach campaigns, business events etc. signing memorandum of understanding on investments amounting to $350 million.

Among the foreign investors are New Yidea, ARGA-EuroSteel, Ghalburjian Group, Arad, Atlas Global, Ecotekhprom, Mataluskaupa Online OA, VHL Development.

“A new system service called One Window, which has also expanded the scope of Business Armenia's support, was implemented at the end of the year. From now on, the foundation will double its efforts in IT, renewable energy, and other sectors of the economy" stated Armen Avak Avakian, the CEO of Business Armenia Foundation in 2017-2018.

Business Armenia team also says it provided a support with the organizational works of the events of Francophonie Economic Forum on 10th of October, 2018, and the EAEU biggest annual business event Eurasian Week, on 22-24th of October.