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March 03 2010
Armenian Prime Minister Tigran Sargsyan meets Chairman of ARTOC Group Mohamed Shafik Gabr
In response to an invitation from Armenia’s Minister for Economy Mr. Nerses Yeritsian to ARTOC Group for Investment and Development to Chairman and Managing Director Mr. M. Shafik Gabr and as a follow up to ARTOC’s interest in Armenia, Mr. Gabr along with Vice Chairman Mr. Pierre Forest went to Yerevan for a three day exploratory visit, primarily to assess the investment potential in the region, establish relationships and gain a better understanding of the economic status in Armenia.
Representatives from ARTOC had visited the country in the summer of 2008 and were impressed with the progress made in the 18 months since their last visit. Mr. Gabr met with various key officials and business leaders to explore a number of investment opportunities in the country, these included President Mr. Serzh Sargsyan, Prime Minister Mr. Tigran Sargsyan, Chairman of the Assembly Mr. Hovik Abrahamyan, Vice Prime Minister Mr. Armen Gevorgyan, Mayor of Yerevan Mr. Gagik Beglaryan and numerous developers and local business people.
Mr. Gabr has commented “This was a worthwhile and constructive visit. There were several potential projects for ARTOC to be involved in and at this stage we are assessing the strongest opportunities in detail. One thing that is most striking about the Armenia is the wealth of knowledge and excellent training the people there receive – they are a true credit to their country.”
The next stages will involve identifying the projects most suited to the ARTOC investment criteria and developing business plans and financial appraisals. With positive support from the Armenian Government ARTOC is looking forward to the possibility of expanding their global portfolio to the region.