Yerevan, 6 March 2019 – EBA Armenia initiated signing of the Memorandum of Understanding to establish the Foreign Investments Protection and Promotion Council. EBA and its partner BMOs (Business Associations and Chambers), which represent the interests of Foreign Investors in Armenia, gathered together and agreed on uniting around the idea of establishing a foreign investment council and work on the improvement of the investment environment.
Recognizing the importance of foreign investment environment improvement in Armenia, it was decided unite efforts to encourage, promote and facilitate foreign investment cooperation among the respective business communities in accordance with the law and regulation and establish a practical framework for the development of stronger relations between the parties, setting forth the procedures for cooperation which can enhance the implementation of mutual development.
Other topics regarding the improvement of foreign investments climate have been discussed and included in the MoU.
Main idea of the establishment of FIC was initiated by European Business Association Armenia in the scope of EU-funded project “Strengthening EU business development in Armenia”.