Time in Yerevan: 11:07,   26 May 2024

Armenian Prime Minister meets with CEOs of top French enterprises

Armenian Prime Minister meets with CEOs of top French enterprises

YEREVAN, FEBRUARY 22, ARMENPRESS. Prime Minister Nikol Pashinyan has met with a group of major business executives during his visit to France.

During the meeting with the leadership of the leading French enterprises, the Prime Minister spoke about the Armenian economic development, prospects of growth, the government’s economic programs, improvement of the business climate and opportunities of investment projects.

Pashinyan said that Armenia’s state budget revenues nearly doubled in 2023 compared to 2018.

“This means that very significant changes have taken place in the country in reducing shadow [economy] and improving the competitive situation. In 2023 the economic growth in Armenia comprised 8,7%, which is an obviously high indicator. In 2022 growth was 12,6%, and 5,6% in 2021,” Pashinyan said.

He added that 180,000 new jobs were opened in Armenia since 2018. “And this has approximately 30% growth in the total number of jobs. 2023 was significant also because we had significant progress in GDP per capita, and we are the leading country in the South Caucasus with this indicator.”

Pashinyan mentioned the “very important and significant” investments and economic cooperation with France, noting the presence of Pernod Ricard and Veolia. He also mentioned other French companies operating in the banking system and the pension fund management. He said that there have been discussions to intensify cooperation in the water supply sector.

Speaking about the Armenian government’s projections to secure at least 7% growth, Pashinyan said he hopes that more French companies will start operating in Armenia.

The Armenian Prime Minister also mentioned the significant projects for modernization of the economy.

“In terms of investment projects I’d like to mention the program on building 300 schools and 500 kindergartens in Armenia. There’s also the over one billion-dollar worth North-South program,” he said, drawing attention of construction companies that could be interested.

The Armenian Prime Minister also presented to the French companies the Academic City project. “We want to create a new city in the higher education sector. We’ve already launched concrete work in this direction.”

“I have to say that we want to inquire about serious investment programs in process manufacturing. IT is still one of the leading branches of the economy. And now the finance ministry and the high tech industry ministry are engaged in discussions with the sector to understand how we can further improve the legislative regulations in IT and make our country more attractive in this sense. In 2023 Armenia recorded significant progress in tourism, and the tourism inflow has already surpassed the 2019 figures. Winemaking is rapidly developing in Armenia, and I think there’s investment potential here as well. We have a broad reservoir construction project,” he said.

Issues pertaining to opportunities of cooperation in construction, infrastructure development, agriculture, tourism, high technologies, and industrial branches were discussed.

PM Pashinyan held separate meetings with the CEOs of Thales, IDEMIA, Pernod Ricard and Societe des Troia-Valles.


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