Problematic to attract Japanese companies for long-term investments in
Armenia - Ambassador

January 02, 2014 | 17:12

YEREVAN. - There is huge potential for development of cooperation
between Armenia and Japan, Armenia's Ambassador in Tokyo told Armenian

Hrant Poghosyan says investments are a problem, since it is difficult
to attract Japanese companies to make long-term investments in

`It has an explanation, and we are working to solve the problems. In
general, reluctance of working in the Armenian market is explained by
the limited scale of the market and often a lack of awareness about
its peculiarities and opportunities,' he said.

Ambassador Pogosyan they are trying to show what Armenia really is, to
explain that the republic is developing high-tech sector- the most
promising field for cooperation.

On the other hand, the Ambassador added that the Japanese have their
research and their interests.

`Three out of five pharmaceutical companies which I recently visited
promised to give serious attention to the study of our market. One
company opened here the distribution of medicine, but not production.
Examining the market, they often come to a conclusion that investments
in production is unprofitable as compared with the countries of
Southeast Asia. We, in turn, are trying to explain that Armenia is not
only opening its market, but is a way of entering the markets of CIS,
Iran and the Middle East,' Ambassador noted.

The diplomat admitted that the process has been slow so far and it is
affected by the absence of the embassy.

`I really hope that everything will go faster with the opening of
Japanese Embassy in Yerevan. I think very soon the Japanese side will
keep the promise, and it will happen,' he concluded.

News from Armenia -