American Companies Express Interest in Investing in Armenia

YEREVAN (Noyan Tapan)–As a result of an Armenian delegation’s recent visit to the US–two American investment companies–NRG Energy and Synergics–showed interest in Armenia’s power sector.

As reported by Dean White–head of the Armenian office of the American Hagler Bailly energy consulting company–these companies made inquiries about the laws and situation in Armenia’s power sector.

White was a member of the Armenian delegation–which also included first deputies of Economy Minister Vardan Movsessian and Energy Minister Hrayr Hovhannessian–deputy Minister of Privatization Gagik Yeghiazarian and others.

The main purpose of the inquiry was to learn the conditions needed for private investment in Armenia’s power system. The delegation had meetings with representatives of the World Bank–in particular–International Financial Corporation and presented Armenian government’s strategy toward the Republic’s power sector and information about reforms in that sphere.

An agreement was reached on World Bank technical aid for Armenia to prepare privatization strategy and present it before the international investment society. At the IFC the sides discussed attraction of that corporation to Armenian markets.

According to White–the visit enabled the Armenian delegation to meet with representatives of different banks and companies and better understand the needed conditions for attracting private investment to Armenia’s power system.

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