Republican Party of Armenia

President Serzh Sargsyan, who is in the United States on a working visit, in the framework of the Investment Forum held a number of bilateral meetings. The President of Armenia held discussions with the Vice-President of the Asian Development Bank Wencai Zhang, President and Chief Executive Officer of Lydian International Howard Stevenson, Executive Director of Contour Global International Company Joseph Brandt.

At the meeting with the Vice-President of the Asian Development Bank, President Sargsyan hailed the Bank’s mission and role in Armenia’s economic development and underscored that in ten years of Armenia’s membership to the ADB our country and the Bank have established efficient cooperation. Serzh Sargsyan stressed the importance of the major investment projects implemented in Armenia through the financing of the Bank, including the development of infrastructures, assistance provided in different areas, programs financed by the private sector which are aimed at the increased competitiveness and sustainable economic development. Stressing the importance of attracting investments at this stage of Armenia’s economic development, Serzh Sargsyan expressed gratitude to the Asian Development Bank for the assistance to the organization of the investment forum in New York. The interlocutors exchanged views on the Bank’s assistance to the development of Armenia’s priority areas to be realized in the framework of the ADB Armenia Partnership Strategy. Vice-President Wencai Zhang declared that the ADB will continue its assistance with the Armenian authorities and in addition to the projects already in progress will provide assistance also to the development of social infrastructures and economic corridors, reforms, innovative programs which, according to Mr. Zhang will attract new investments to the economy to Armenia.

President Serzh Sargsyan and President and Chief Executive Officer of Lydian International Howard Stevenson at the meeting discussed issues related to the current operations carried out by the Lydian International – a leading company in the area of discovery and development of natural resources, particularly to the works carried out by the Company at the Amulsar mine and development programs. The President of the Lydian International, which is the hundred percent share holder of the Lydian Armenian, assured President Sargsyan that the major mining project, which is carried out in full compliance with the ecological requirements and international standards, will promote the development of the communities and Armenia’s economic development in general and will have a positive impact on the country’s GNP. Howard Stevenson underscored that his Company through its works is striving to prove that it is possible to develop mining industry with the modern technologies which can be beneficial for all parties – the state, the private sector, and communities, and that Armenia is a country open for foreign investments.

On October 10, in New York President Sargsyan met also with Joseph Brandt, the Executive Director of Contour Global International Company which is working in the area of energy production. The parties discussed the results of the activities of the Contour Global Hydro Cascade, which opened its office in Armenia one year ago, and the preliminary works for the next phase of the investments of the Company which so far is the largest American investor to our country. The parties highly valued the level of cooperation, which in their opinion allowed the Company in a short period of time to achieve noticeable results.