U.S. Embassy and AmCham focus on supporting U.S. investment in Armenia
On June 1, the U.S. Embassy in Yerevan, in partnership with the American Chamber of Commerce in Armenia (AmCham) and the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, organized a discussion focused on attracting U.S. investments to Armenia. The workshop specifically focused on how companies and investors can work with the Overseas Private Investment Corporation (OPIC) and featured visiting OPIC staff members who explained their efforts.
A self-sustaining U.S. government agency that helps U.S. businesses invest in emerging markets, OPIC was established in 1971 to provide businesses with the tools to manage risks associated with investments in such economies. OPIC support for U.S. investment includes direct loan financing, political risk insurance, and support for emerging market private equity investment funds that invest in emerging markets.
By fostering economic development in emerging market countries, OPIC advances U.S. foreign policy and national security priorities while helping emerging markets become active members of the international economy.
Opening the session at the Armenia Marriott Hotel Yerevan, General Manager of ContourGlobal Hydro Cascade and AmCham Armenia Board President Ara Hovsepyan welcomed the participants and highlighted the potential U.S. investors can find in Armenia.
“OPIC is a key international lender and investments facilitator that we definitely want to see supporting many businesses and investments in the Armenian market,” he said. “At present, the country is opening its opportunities even wider for foreign investment, given the recent changes in the political scene. I think OPIC should be able to find worthy projects to invest in through lending. And AmCham is ready to be a partner for OPIC.”
The event – attended by AmCham member companies, local business associations and Armenian government officials – was designed to support the deepening of the U.S.-Armenia trade and business relationship. Over the past three years, U.S. Ambassador to Armenia Richard Mills, Jr., has made deepening that trade relationship one of his top priorities. And, in fact, U.S.-Armenian trade grew by nearly 42% last year.