Armenia, Singapore’s Temasek Holdings consider creating joint venture foundation

On an official visit to Singapore, Armenian Prime Minister Nikol Pashinyan met with representatives of Temasek Holdings foundation, led by investment group co-chair Nagi Hamiyeh.

During the meeting, Nikol Pashinyan stated that the Armenian government is interested in discussing cooperation opportunities with the Temasek Holdings, given the latter’s productive activity in a number of sectors of the economy, including high technologies.

Pashinyan said the technological sector is one of priorities of the Armenian government as Armenia plans to build a technological economy, with the IT sector being the locomotive.  He said Armenia has had a developed engineering system since the Soviet times and added that currently engineering companies successfully operate in the country.

The Prime Minister advised that the IT field in Armenia has grown fivefold over the past 7 years. Pashinyan introduced the government’s actions aimed at fighting monopolies, corruption, adding that institutional reforms are being carried out in a number of directions.

“We invite you to get acquainted with Armenia’s technological opportunities and activities of companies,” the Premier said.

Nagi Hamiyeh stated that there is a small, but organized Diaspora in Singapore the representatives of which successfully operate in different areas, including technological. The company representative added that Temasek Holdings is ready to discuss the cooperation and investment opportunities with the Armenian government, including in the field of engineering education. The co-chair of the investment group introduced the foundation’s activities in Singapore, China, US and India.

The parties discussed the prospects of creating a joint venture foundation, implementing startup programs, exchange of experience and technical cooperation.

The company representatives were invited to attend the 2019 World Congress on Information Technology (WCIT) to take place in Yerevan in autumn. They accepted the invitation with pleasure. The sides agreed to continue the discussions in Yerevan.

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