ArmInfo.A number of French enterprises are interested in developing business in Armenia. Ambassador Extraordinary and Plenipotentiary of France to Armenia Mr. Jonathan Lacote stated this during a meeting with Minister of Economy of the Republic of Armenia Tigran Khachatryan. He noted that business sees real opportunities in Armenia today.
According to the press service of the Economy Ministry, the Ambassador presented the process of work aimed at implementing major investment programs in Armenia. During the meeting, Tigran Khachatryan and Mr. Jonathan Lacote outlined joint steps for the near future. The Minister noted that these programs will further connect the economies of Armenia and France. In turn, the Ambassador assured that the entry of large brands into Armenia will change the attitude of the French investment community towards the country.
During the meeting, the parties also touched upon companies operating in Armenia with French capital and their programs. Minister Tigran Khachatryan noted that he periodically holds meetings with the latter to discuss emerging issues and ongoing projects.
It should be noted that, according to the RA Statistical Committee, the foreign trade turnover between Armenia and France in 2019 decreased by 21.8%, amounting to $ 92.8 million. At the same time, exports showed an increase of 1.6% to $ 8.7mln, while imports fell by 23.6 % up to $ 84.1 million.
It should be noted that there are both successful and sad stories related to the attempts of French investments in Armenia. Among the successful ones is the purchase by the Pernod Ricard company of the Yerevan Brandy Factory, the leader in the production of premium brandy and the largest exporter of these products. And Among the sad investments - the telecommunications company "Orange", which worked in the country from 2009 to 2016. It had to leave Armenia due to the presence of serious flaws in the competitive environment.
