Armenia offers great opportunities to foreign investors and its appeal is fourfold: it has a unique geographical location and cultural heritage that provides a strategic access for businesses to markets in Russia/CIS countries, EU and the Middle East; it provides one of the most liberal and favorable investment regimes among emerging economies; it has stable macroeconomic situation and the economy has been steadily expanding for last 2 decades; it has skilled and highly educated labor force that contributed to the robust development of high-tech industries and services sectors.
- IT sector – one of the fastest growing industries (over 2010-2015 the IT sector’s CAGR comprised more than 34% with increase in employment by about 2.35 times) with globally competitive high quality and cost effective labor in software development, semiconductor design, multimedia, web design, information systems and system integration. The sector is considered to be one of the top priorities for the Government;
- Agri-food industry – with favorable climatic and geographic conditions and access to large markets: over 2010-2015 the sector has provided the 23% of GDP on average; started from 2011 the average growth rate of Agriculture sub-sector comprised more than 10%;
- Financial and banking sector – with well-developed infrastructure, sound players, effective supervision, mandatory CMTPL and increasing contribution to GDP, current financial penetration rate comprises circa 70%
- Mining and manufacture of basic metals – has many players presence of over 38 different types of metals and 70 non-metallic minerals, as well as strong FDI traditions;
- Pharmaceutical industry – has more than 2,500 varieties of medical herbs and berries growing in RA, strong scientific and R&D potential. In 2010 Armenia adopted EU GMP standards and as of now all Armenian pharmaceutical companies are realigning their production processes;
- Tourism and hospitality sector– very dynamic and under special focus of the Government, led to double-digit growth in tourist inflow over the last five years: the sector’s CAGR over last decade comprised 10.6%; with growth rate of the number of international arrivals (14.1%) the country substantially surpassed the world average (3.3%);
- Energy – a sector with favorable regulatory regime that is becoming another booming sector in Armenia;
- Connectivity – a strategically important sector for the country with heavy public financing and increasing number of PPP initiatives.