Enterprise Armenia executive presents investments strategy and top sectors

67 investment projects have been launched in Armenia since 2020 with support from Enterprise Armenia, an organization with the stated mission to foster a supportive environment for both foreign and domestic investors.

Most of the interested investors are from the United Arab Emirates and the United States.

Enterprise Armenia, founded by the Armenian government and functioning as a foundation, offers “one window” services, according to Enterprise Armenia Acting General Director, Investment Director Gohar Galyan.

“Our mission isn’t to simply attract investments but to provide support to investors,” Galyan told Armenpress.

Enterprise Armenia has developed a new strategy to attract investments. The government seeks to attract companies listed in Forbes and Fortune 500. The high-tech industry and tourism sectors are also highlighted. “It has been estimated that attracting investments in these sectors is more favorable,” Galyan said.

Aside from targeting specific sectors or companies, Enterprise Armenia is targeting countries that are important for Armenia. The organization will pursue aggressive marketing aimed at the United States, Germany and the UAE. Concrete offers will be made in these countries and Armenia will be represented as a regional leader in high-tech industry.

“We have prepared the list of companies that we will target, organize meetings and present Armenia’s investment climate,” Galyan said.

Enterprise Armenia is acting as a link between the country and investors.

“Tourism and leisure, as well as the high-tech industry sectors are targeted for attracting foreign investors,” Galyan said, adding that local investors have been mainly investing in agriculture and food processing.

Asked where most of foreign investment interest comes from, Galyan said “The majority are from the United Arab Emirates and the United States. As to the size of investments, most are investments with Russian capital. Wherever there is Diaspora that’s where the power of investors comes from.”

“27 investment projects with a volume of 343 million dollars were launched with our support before 2023. In 2023 we implemented 24 projects worth 800 million dollars, and 16 projects in 2024 worth 110 million dollars. Meaning 67 projects were launched thanks to our work,” Galyan said.

She said that Armenia is highly competitive compared with other regional countries given the concentration of global high-tech companies such as NVIDIA and AMD, and investors value the capacity of the labor market.