Armenia, a new paradise for entrepreneurs and companies

Armenia stands out as a new paradise for entrepreneurs and companies, says Sedrak Petrosyan, businessman and Armenian market expert. Investors are looking for new destinations to grow and the country offers excellent conditions for investment.
“It is a golden opportunity for investors, entrepreneurs and businessmen who want to diversify their businesses,” says businessman Sedrak Petrosyan, who has been working for some time to connect Spanish companies with Armenia. A growing tourism industry with great landscapes, a paradise for outdoor sports and the facilities for setting up a business are among the advantages of investing in Armenia, which is strengthening ties with Spain and is increasingly attracting the attention of investors and administrations.

“Figures like Kim Kardashian have helped to showcase the country, but Armenia is a developing country, where the presence of prominent international brands, which would be the first, provides a great business opportunity,” says Petrosyan, of Armenian origin and settled in Catalonia since childhood. The president of the Petrosyan Group has been putting Spanish and Armenian companies in contact with each other for years in order to generate new business opportunities. The idea is to study the area, its characteristics and fragment the market windows. From here, a clear framework for investment and growth appears, with tourism as the main focus, thanks to its landscapes, routes and outdoor sports. “In Armenia there is a great opportunity linked to tourism and risk sport. In Catalonia there are many companies looking to expand the sport, with climbing, rafting and the like, and the mountains of Armenia offer a thousand possibilities”.

The characteristics of Armenia do not go unnoticed. The options for growth through tourism mean that the hotel sector has also turned its attention to Armenia. “We are in contact with hotels, which have realised that their presence in Central Asia or the Caucasus can bring a European dimension to the area and make it more attractive. In Asia they all go to China and Japan and there is a very neglected part, so when you explain to companies what is there, they are interested. It’s an opportunity to stand out from the competition.”

Armenia is a developing country and tourism is not the only business focus. Its slow growth since the fall of the Soviet Union also offers a source of opportunities, in an area that is trying to establish an increasingly European profile. “There are aspects that are no longer new here, but when you transfer them to these lands they are, and this is attractive for certain Spanish and European companies”.

If Armenia is emerging as a new paradise for businessmen and entrepreneurs, it is not only because of its tourist attraction. One of its assets and a key factor when it comes to doing business is the ease of setting up a company. It now ranks 47th out of 190 in the Doing Business ranking, which ranks countries according to how easy it is to do business. “Throughout the region, opening a business is super easy, fast and cheap. They open the doors to entrepreneurs and anyone who wants to work and they are very welcoming to foreigners who want to invest.”

Therefore, Armenia offers many advantages for companies, although it is important to know the area and the administration when it comes to streamlining bureaucratic processes. Petrosyan Group has specialised in facilitating the entry of European companies into Armenia, in a two-way business. “We have created a platform to provide an opportunity for local people to get to know Armenia and vice versa. We don’t act as intermediaries, we put people in contact with each other,” explains Sedrak Petrosyan.

Las administraciones también han puesto sus ojos en Armenia. El trabajo de Petrosyan Group ha hecho evidente que hay una opción de negocio y tanto el Ayuntamiento de Barcelona como la Generalitat de Cataluña se han interesado en tener vínculos con Armenia. “Ha habido un cambio radical porque han visto que lo que hablamos se ha cumplido. Las diferentes administraciones están deseando unirse a nuestro equipo porque tienen un gran deseo de propagar la cultura catalana en Asia.” Por eso se harán tours para que los empresarios españoles conozcan mejor Armenia y su condición de nueva oportunidad de oro para hacer negocios.

​* Transcripción literal del artículo publicado en comunicae.es