The executive director of the Development Foundation of Armenia, Armen Avakian, explains to Courtney Fingar how the country’s global diaspora could be the key to the next level of investment growth. Q: As the new head of the Development Foundation of Armenia [the country’s national authority for investment, export and tourism promotion], you have said you want to create a ‘2.0’ version of the agency. What does that mean in practice?
A: I mean that the majority of the financial resources in the past were aimed towards more direct, exposed forums, promotion or marketing at that level, whereas now we are thinking not only FDI but FDI vs foreign projects investments [FPI]. For FDI we are promoting Armenia as a site, for FPI we are selling specific projects that are interesting. We moved this project work into our system. So the project team that creates and generates the actual investment projects is not just promoting Armenia but also specific business projects we are working on.
Read the full interview here