The Investment Opportunities in the Energy and Mining Spheres were Presented in New York

The Armenia’s energy policy, the structure of electricity production, the regulations of the sphere and the institutional environment were presented during <Armenia Investment Forum-2016>  in USA, New York.

The RA Deputy Minister of the Energy Infrastructures and Natural Resources Hayk Harutyunyan introduced the investment opportunities in the sphere to the attention of international investors and delivered a large presentation.

<The Armenia’s energy sector is characterized as a balanced and well functioning system, more typical of the developing countries. The share of the nuclear, thermal and renewable electricity production is roughly equal in Armenia. Two pipelines from Russia and Iran ensure gas supply diversification. Efficiently functioning institutional structures, as well as the transportation and distribution networks ensure stable electricity supply and service for the entire population and economy. Anyway, considering the absence of energy minerals and Armenia’s dependence on energy resources, the Government of Armenia seeks for alternatives to increase the level of energy security for ensuring stable supplies, energy efficiency, new investments and technologies, regional cooperation and sustainable infrastucture>, reads the report on Armenia’s energy sector.

The main speaker introduced the investment opportunities in nuclear, thermal, hydro, renewable energy production and mineral sectors.

Vivien Foster, global lead for the Energy Economics, Markets and Institutions for the World Bank Group’s Energy and Extractives Global   Practice noted, <Armenia’s energy sector combines self-regulatory and institutional trends, making confident steps towards the establishing cost recovery tariffs and approval of electricity purchaise agreements.

During the energy-related thematic session information was provided to possible investors about development potentials of Armenia’s renewable energy resources(solar, wind, thermal and SHPPs) by the Armenian team. The US-based Contur Global Company introduced its successful experience of investing in Armenia’s energy sector.

During the thematic session RA Deputy Minister of Energy Infrastructures and Natural Resources Hayk Harutyunyan also presented the main data on the mining industry and regulations of the sphere, including data on the approved mineral resources, recycling production capacities, export structure and geography, the policy of acquisition of the exploration and mining license, as well the procedure for allocation.

 <The mining is a key sector in term of the promoting of economic growth of Armenia. There are over 850 mines (including metals and precious metals), of which 497 were operated. Armenia is also rich in various non-metallic minerals. Almost all kinds of volcanic minerals are available here>, reads the report presenting the main indicators of the sector.

The Armenia's investment environment, with the main emphasis of the mining industry, was introduced to potential investors participating in the plenary session, also was provided information on access to financial instruments. 

<Dundee Precious Metals> company has presented its experience in Armenia.

Phil Hopwood, the plenary session moderator, head of the auditing and consulting firm "DELOITTE" of mining affairs mentioned, <Armenia is open for business from the perspective of mining industry, and is taking significant positive steps to promote foreign investment>.