ACBA Credit Agricole CEO urges not to impede foreign investorsNovember 30, 2010 - 14:33 AMT PanARMENIAN.Net - ACBA Credit Agricole CEO Stepan Gishyan said that there are all prerequisites in Armenia for implementation of foreign direct investments. According to him, the inflow of foreign investments to Armenia has a positive impact on its economy development, while the bank’s cooperation with French banking group, Credit Agricole, can serve as a contagious example. “Being a universal bank, over four years we have managed to occupy leading positions in Armenia’s banking system by all indices,” Gishyan told a national conference in Yerevan – Foreign Direct Investments in Armenia. Specifically, the number of bank employees has reached from 250 to 900 people, the number of bank branches – from 12 to 40. Besides, the bank capital has increased, amounting to USD 100mln. The bank assets have amounted to USD 500mln, while its profit has grown by 10 times over four years, totaling USD 10mln. According to Gishyan, investments in Armenia are profitable, as there are niches, which are underdeveloped or almost not developed. He urged not impede investors. Gishyan noted that the country’s government stimulates inflow of foreign investments, reforming the legislative field. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia: Protesters march to parliament, some spend the night on street The protesters did not disperse despite heavy rain that began at around 2 a.m. local time. Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. |