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Franchise Conference Connects U.S. Businesses with Armenian Investors07:49 6 Sep 2018
YEREVAN—The United States Embassy in Yerevan and the U.S. Commercial Service in Moscow, in partnership with IDBank, organized a one-day conference focused on franchise business opportunities on September 5 in Yerevan. The event is part of an ongoing effort to foster trade and investment between the United States and Armenia. The conference gave participants rare and valuable early access to well-known American brands eager to enter the Armenian market.
“I know there are many success stories waiting to be written here today,” Ambassador Richard M. Mills, Jr. said at the event’s opening. “It is my hope that we, at the U.S. Embassy, can set the stage for success by connecting Armenian and American companies. Then we can step back and let you do what you do best and build your businesses.”
The franchise conference brought U.S. and Armenian businesses together, helping to forge new partnerships in various sectors, including hospitality, retail, and tourism. More than 50 Armenian business leaders and government officials attended the conference, along with representatives from three U.S. corporations: Papa John’s Pizza, Baskin Robbins, and Domino’s Pizza. The American business representatives presented their franchise concepts and learned about the Armenian business environment.
Along with presentations from each of the American franchise businesses, participants heard from well-known Armenian organizations about business, financial, and legal considerations, including the importance of intellectual property rights as franchising in Armenia develops further.
The event builds on the success of a similar event in 2015 which resulted in Tutti Frutti Frozen Yogurt opening two franchises with local partners in the region.
After the conference Mills was asked by a reporter about prospects of strengthening U.S. Armenia economic and investment ties.
“We’re here today for a very important development in the US-Armenian trade relationship. And that is a one-day conference that the Embassy is sponsoring to bring together Armenians interested in franchise opportunities with US corporations and businesses. And I think it shows that we believe there are real opportunities here, for US businesses and for Armenian businesses to prosper together in the new Armenia,” said Mills.
“We believe there are real opportunities for business and trade that will benefit both sides, and we are encouraging the government to continue to work to help improve and develop Armenia’s business climate. Business climate, the investment climate, can be fragile. And all it takes is one government mistake or a bad law, or a bad decision and investors can be scared away. That’s why I hope the government will continue to pay attention to the environment it is creating for business and investment here,” added the U.S. Ambassador.
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