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Official News

Tuesday, 16 September 2008


RA Prime Minister Tigran Sargsyan received a delegation led by President of "Chronimet" German company, Honorary Consul of the Republic of Armenia to Baden - Wurtenberg region (Germany) Gunter Pilarsky.



Greeting the guests, the Prime Minister noted that Armenia closely follows Chronimet's activity and made a point of the Company's willingness to expand the scope of its involvement in our country. "Our objective is to create such legislative and business environment to best suit all investors,' Tigran Sargsyan said.


The Prime Minister emphasized that his government is interested in that Chronimet's success story in Armenia sets an example to other foreign investors.


Appreciative of those favorable conditions offered to his company in Armenia Gunter Pilarsky pointed out that in his capacity of RA Honorary Consul to Baden - Wurtenberg, he has been interested in establishing close ties of cooperation between the governments of Armenia and Germany and the representatives of business circles of the two countries. In presenting the development prospects for the Zangezur copper and molybdenum plant, the President of Chronimet spoke about planned investment programs including in particular the design of the Kajaran copper processing plant, the launching of electric accumulators production in Yerevan's Electron JSC together with Austrian partners. Mr. Pilarsky indicated that both his company and other German companies are taking interest in expanding their activities in the Armenian mining industry, paint manufacture etc. He mentioned that logistics remains a key bottleneck in this area. Gunter Pilarsky also noted that a final objective behind investments in the foregoing spheres is to get end products and organize line production on the spot.



Pleased with euro 150 million worth of investments made by German companies in Armenia and welcoming any further investment proposal, Tigran Sargsyan declared that the RA Government stands ready to support them as much as possible.



During the meeting, both sides emphasized the need for expanding the Armenian-German cooperation in banking and insurance sectors inclusive of pension insurance.

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