On September 26, Dr. Ricardo Giucci, Managing Director of Berlin Economics, presented the first Economic Monitor on Armenia in Yerevan. Afterwards, Björn Vogler, consultant at Berlin Economics, presented the results of a new study on foreign direct investment (FDI) in Armenia. Mr. Giucci and Mr. Vogler were accompanied by Boris Schneider, project manager for Armenia. The event was organised in cooperation with the German Embassy and the German Business Association (DWV) in Armenia. Numerous German businesspeople from Armenia as well as government officials and EU representatives took part in the event.
At the beginning, Dietmar Stiel, Managing Director of DWV Armenia, gave a welcoming address. Dr. Ricardo Giucci then presented the economic outlook. After last year’s political upheaval, the Armenian economy is facing various challenges, not least the currently weak FDI figures: in the first half of 2019, for example, foreign direct investment in Armenia slumped by 80% compared with the previous year. Finally, Björn Vogler presented the most attractive sectors of the Armenian economy for FDI, which had been identified in the study: these are primarily IT, food, tourism and business process outsourcing. Afterwards, there was a lively discussion with the audience. At the end of the event, Klaus Wendelberger, Deputy Ambassador of the Federal Republic of Germany, spoke a few words of thanks.
You can download the economic monitor under the following link: Economic Monitor Armenia