Michel Pharaon was represented investment attractiveness and programs of Armenia

Within the framework of the invitation of the Minister of Economic Development and Investments of RA Suren Karayan, delegation headed by the Minister of Planning of the Republic of Lebanon Michel Pharaon arrived in Armenia.

Suren Karayan and Michel Pharaon signed a Memorandum of Understanding on Cooperation. Memorandum will contribute to further expanding the bilateral economic cooperation, increasing the trade turnover, intensifying the business ties, strengthening and developing mutually beneficial partnership, encouraging cooperation between enterprises of the parties, including small and medium sized enterprises, with a view to promote investments, joint ventures and other forms of cooperation between them.

Minister Karayan thanked Michel Pharaon for the visit and said, “We put the beginning of a new cooperation which will strengthen the relations between our two states.”

The guests were introduced to Armenia’s investment attractiveness, reforms on business environment, Armenia’s positions in various economic ratings, investment program platform, tourism potential, agricultural and healthcare programs. Presentations were delivered by the Chairperson of the State Committee for Tourism Zarmine Zeitountsian, Deputy Minister of Agriculture Armen Harutyunyan and officials from the Ministry of Economic Development and Investments of RA. The guests were mainly interested Syunik Free Economic Zone.

In his speech Michel Pharaon mentioned that Armenia really has an investment attractiveness, adding, “Mrs. Minister, I invite you and your tour team to Lebanon and suggest to hold a joint investment forum aimed at presenting Armenia’s investment potential to the Lebanese businessmen and investors, as well as establishing business ties. This can be another good opportunity for the development of economic ties between our countries. What you represented today will be very interesting to the Lebanese investors. Armenia installed mechanisms aimed at facilitating private investments.”

At the end of the meeting the Minister of Planning of the Republic of Lebanon Michel Pharaon expressed gratitude for effective discussion.