Economic Monitor Armenia presented at the 1st German-Armenian Business Forum in Stuttgart

On October 10, 2019 Dr Ricardo Giucci, Managing Director of Berlin Economics, took part in the event hosted by the German Business Association (DWV) in Armenia, the Chamber of Commerce and Industry of the Republic of Armenia in the Federal Republic of Germany and the German Eastern Business Association in Stuttgart.

After introductory remarks by Ashot Smbatyan, Ambassador of the Republic of Armenia in Germany, Dr Ricardo Giucci presented the first issue of the Economic Monitor Armenia. During his presentation he stressed the stable macroeconomic situation in the country on the one hand, while mentioning the weak FDI attraction and the ambitious mid-term fiscal plans on the other hand. He also pointed out the study on FDI in Armenia conducted by Berlin Economics, in which the most attractive sectors of the Armenian economy for FDI had been identified: IT, food, tourism and business process outsourcing. Thomas BareiƟ, MP and Parliamentary State Secretary at the Federal Ministry of Economic Affairs and Energy held a keynote speech, in which he encouraged to invest in Armenia. Afterwards, representatives of German companies in Armenia took part in roundtables and presentations on the topics of energy, IT and tourism.

At the end of the event attended by about 50 participants from business and politics, Dietmar Stiel, Managing Director of DWV Armenia, and Ute Kochlowski-Kadjaia, Managing Director of the German Eastern Business Association, spoke a few words of thanks.