Wednesday, May 17 2017 14:04
Alexandr Avanesov

Ambassador: The potential of American investments into Armenian economy estimated is $ 8 billion

ArmInfo. The potential of  American investments into Armenian economy estimated is $ 8 billion.  On May 17, in the fields of Armenian-American forum dedicated to  prospects of development of alternate power, stated the US Ambassador  Extraordinary and Plenipotentiary to Armenia Richard Mills.  

According to him, the new administration of US in interested in  development of trade-economic cooperation with Armenia, increscent of  bilateral cargo turnover and attraction of investment aimed  at  receiving income.   

According to the Diplomat, the energy sector of Armenia registered  growth in the last 25 years. "When I imagine the prospects of  Armenian energy development for the next 25 years I feel ispiration",  Richard Mills emphasized. He noted that the volume of power generated  in renewable energy plants has increased during the period of  2010-2015 by 20%, what, according to him, may be viewed by the  American investors as a direction of investments. The Ambassador  recalled that in 2017 Armenian-American relations are 25 years old.  In those early years of independence, Armenia's energy situation was  shaky. Trees were clear-cut to provide heat. Instead, with the  support of friends and partners like the U.S., Armenia developed into  a nation that is able to meet its needs, and in fact able to export  its excess electricity. And he mentioned how the U.S. has partnered  with the Armenian government, describing an exchange trip organized  last month for Armenian officials and private sector representatives  to visit experts in the U.S. to gain best practices for solar power  energy production. Seven U.S. companies - Honeywell Building  Solutions, Honeywell Smart Energy, MacLean Power Systems, First Solar  Power Solutions, Caterpillar, General Electric and Contour Global -  sent representatives to the conference to share their experiences and  to learn about business opportunities in Armenia. The one-day program  also featured presentations by International Finance Corporation  (IFC), German Development Bank KfW, Ameria Bank, Switzerland-based  Meeco Group, and Armenian government officials.

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