Business Armenia Foundation intends to attract foreign investments in amount of $ 46.8 million in 2018

ArmInfo. The Business Armenia Foundation (formerly the Development Fund of Armenia) intends to attract foreign investments in the amount of $ 46.8 million in 2018, the Executive Director of the Fund Armen Avagyan stated at a press conference in Yerevan on March 27.

At the same time, according to him, it is planned to assist domestic companies exporting products for $ 16.3 million. In general, exports of agricultural products, jewelry, light industry, wine. In general, Avakyan continued, the current year will be meaningful for the Fund. With the financial assistance of the Asian Development Bank, it is planned to create an electronic site "Selekt Armenia", which together with "Invest Armenia" and "Made in Armenia", will represent the investment opportunities and export potential of the country. In order to increase the effectiveness of work with companies in 2018 will be involved in the CRM system, designed to improve the management of customer relations. The hotline operating under the Fund will also contribute to a rapid response to the problems of investors and exporters. Thanks to a $ 394,000 grant from the United Nations Conference on Trade and Development (UNCTAD), the "eRegulatins" mechanism will be launched, with which detailed information on investment processes in Armenia will be classified and published, and problems will be identified. Successful negotiations on its financing have been carried out for this project.

Armen Avagyan also said that in 2017, with the assistance of the Fund, 75 companies from Armenia participated in 11 exhibitions, which resulted in the conclusion of contracts worth 5.4 billion AMD. These figures are twice the volume of transactions made in 2016. At the same time, AMD 1 drams accounted for AMD 23 of revenue. Based on the results of the 12 conferences and forums organized by the Foundation last year, deals were made in the amount of 317 million AMD. During the year 2017, the Fund's efforts signed investment memoranda worth $ 15.5 million, with reinvestments amounting to $ 3 million.  The executive director also reported on the last year's structural changes in the Fund, putting tourism in a separate component. The new structure of the Foundation in the person of the Business Assistance Club provides free advisory services to the members of the Foundation. Already dozens of companies took advantage of this opportunity. In particular, we are talking about consultations in the field of freight transportation, legal assistance, tax and customs legislation, etc. Currently, 36 missions of the Fund have started active work in 22 countries.