McKinsey & Company Global Managing Director: Armenia should become the
beacon of development in the region

October 30, 2010 - 18:15 AMT 13:15 GMT

Global Competitiveness Forum has ranked Armenia 97th in the world for
competitiveness; however, the country is making active attempts to
improve its position, with local experts having higher qualification
as compared to other states in the region, according to Global
Managing Director of McKinsey & Company, Dominic Barton.

At National Competitiveness Foundations conference in Yerevan, he
stressed the necessity for the increase of competitiveness and
reduction of corruption level for Armenia to be different from other
regional states.

As the expert noted, Armenia has to select priority spheres to be
represented by at the global market, as well as invest in the
development of infrastructures. `Armenia has a strategically important
position, which might make the country the beacon of development in
the region. I would pick no other country but Armenia if I were to set
headquarters in the region. People of Armenia struck me as reasonable
and logical,' Barton stated, urging Armenia to strive towards making a
difference in the region.

McKinsey & Company is a global management consulting firm that focuses
on solving issues of concern to senior management. McKinsey serves as
an adviser to the world's leading businesses, governments, and
institutions. It is recognized as a leader and one of the most
prestigious firms in the management consulting industry.

From: A. Papazian