Armenian companies lack international experience: Dutch advisor

YEREVAN, November 1. / ARKA /. What Armenian companies lack is experience in working with international organizations, according to Arko van Wessel, an advisor for Private Sector Investment grant program, who spoke at its presentation today in Yerevan.

"Very few companies here can boast of having experience in doing business with foreign partners, but I think it's not a big problem, because this is what can be obtained very quickly," he said.

According to Wessel, the PSI program, which will finance Armenian -Dutch joint ventures, may facilitate the acquisition of experience and, at the same time, help improve the investment environment in the country, and stimulate economy.

The advisor, particularly, said the program covers agriculture, industry and services sector. He said the grant may not exceed EUR 1.5 million, 50% of which will be covered under the program, and the other half by its partners. He said the PSI has been effective in Armenia for ten years, but despite this, the private organizations are in no hurry to use it.

"Maybe the problem is the low level of awareness. That's why we have organized this event today to properly present our program to Armenian organizations," Wessel said.

He said the program is being carried out in 50 countries, including Georgia and Moldova.

Natalia Artsruni, director of the department for encouraging investments in the Armenian Development Agency, said the preference will be given to innovative projects. She said three projects - two in agriculture and one in the field of medicine-are being implemented now as part of PSI program.

The PSI program is implemented by the Ministry of Foreign Affairs and Development Cooperation of the Netherlands, and promotes innovative investment projects in developing countries. -0-