ArmInfo. Armenian Minister of Economy Gevorg Papoyan received a delegation led by Valerio Iachizzi, Secretary General for Sport at the International Automobile Federation (FIA), the parent company of Formula 1.
During the meeting, the parties discussed opportunities for developing cooperation between Armenia and the FIA, including within Formula 1, aimed at fully realizing the industrial and engineering potential of motorsports, stimulating tourism through the organization of international events, and enhancing Armenia's investment attractiveness and strengthening its position in the global market.
Gevorg Papoyan presented the country's economic development priorities and ongoing infrastructure programs, emphasizing the importance of strengthening international partnerships, actively engaging the private sector, and creating a favorable investment climate. The Minister reaffirmed the Armenian government's willingness to support joint initiatives and consider proposals of mutual interest.
It should be noted that the FIA is the governing body of Formula 1 racing. It is a non-profit organization responsible for regulating and overseeing all aspects of the sport, including safety, technical regulations, and sporting rules. The FIA was founded in 1904 and is based in Paris, France. It comprises 246 member organizations worldwide, including national automobile clubs, manufacturers and suppliers.
