The 8th Meeting Of The Board Of Trustees Of The National Competitive


Tue sday, 10 February 2009

Other public sector representatives attending the meeting included
Board members Vahram Nercissianz, Chief Economic Advisor to the
RA President and Vice Chairman of the Board; Nerses Yeritsyan, RA
Minister of Economy; Tigran Davtyan, RA Minister of Finance; Arthur
Javadyan, Chairman of the Central Bank of Armenia. Representatives of
the private sector and the international donor community attending the
meeting included Board embers Ruben Vardanian, CEO of Troika Dialog;
Noubar Afeyan, CEO of Flagship Ventures; Raffi Festekjian, CEO of
Wolters Kluwer/PCi; and Aristomene Varoudakis, World Bank Country
Manager in Armenia. Hranush Hakobyan, RA Minister of Diaspora, and
Hakob Sarkissian, Partner amd Head of Transactions, CIS of Ernst
&Young also attended as invitees.

The goal of the National Competitiveness Foundation of Armenia is to
foster sustained economic development and raise Armenia’s level of
competitiveness. The Foundation fosters the formation of a strong
and competitive Pan Armenian world, and assists in the development
of Armenia into a regional and international center in areas where
it has intrinsic potential, such as tourism, healthcare a nd education.

The mission of the Foundation is the development and implementation
of strategic investment projects, the formation of infrastructure
and capacity required for those projects, and the development and,
in partnership with ministries, the implementation of policy and
reform projects aimed at creating a favorable enabling environment.

During the Board meeting, the newly appointed Chief Executive Officer
of the National Competitiveness Foundation of Armenia, Mr. Pegor
Papazian, presented his proposals regarding the strategic approach,
work plan, organizational structure and budget planning aspects of
the Foundation.

Among other issues, Board members addressed the recent developments
of the world economic situation and the actions undertaken by the
Government of Armenia to ensure the sustainable development of
Armenia’s competitiveness in that context.

The Board approved the candidacy of Mr. Armen Hovhannisyan for the
position of the National Competitiveness Foundation’s Tourism Office

Mr. Hovhannisyan was selected from among 81 applicants by a special
committee composed of Board members, advisors to the Board and the
Chief Executive Officer of the Foundation, Mr. Papazian. The Tourism
office of the Foundation already has a portfolio of projects that are
in the planning or implementation stage, including the development
of the area around the Tatev monastery into an important tourist
destination in conjunction with the restoratio n of the Monastery
and the construction of a ropeway across the Hali gorge undertaken
in partnership with Armenia 2020. Another tourism project under
consideration is the creation a Masters’ neighborhood as a tourist
destination near the city of Spitak, which will showcase the work
of master craftsmen from the region who would live and work in this
special neighborhood.

Several projects in the health sector are under consideration
in collaboration with the Ministry of Health and the Ministry of
Economy, including one project in the advanced planning stage aimed
at establishing a major center for nuclear medicine in Yerevan. The
Board also discussed plans in other target sectors, forming a working
committee to begin developing the Foundation’s project portfolio in
Education and deciding to take up the topic of initiatives in the
financial sector and of Armenia as a center of business excellence
during its next meeting.

The Board also discussed the issue of the Pan Armenian Bank, and
requested that the Central Bank of Armenia assume responsibility for
the selection of international experts who will assist in the design of
the Pan Armenian Bank’s functional and institutional structure. Having
examined more than 140 candidates from seven countries, a committee
of the board made up of Ruben Vardanyan, CEO of Troika Dialog, Vache
Gabrielyan, Vice Chairman of the Central Bank of Armenia, and Andrew
Lazarian, M anaging Director of Ameria CJSC, concluded that although
many candidates were of high caliber, none had the specific experience
required to ensure the success of the Bank’s operations and to fulfill
its vision. Based on the committee’s recommendation, the board decided
to launch a broader and more specifically targeted international
campaign to attract world class candidates for consideration at
subsequent Board meetings.

The Board decided to create a working group together with the Ministry
of Diaspora to develop mechanisms for collaboration with Armenians
from the Diaspora who have high professional qualifications with the
aim of foster a stronger and more competitive Pan Armenian world. The
same working group will also address two other aspects of active
collaboration within the Pan Armenian world, namely the interaction
of Armenians in a virtual electronic environment and the creation
of a network of prominent Diaspora Armenian advisors to provide
the National Competitiveness Foundation of Armenian with a powerful
support structure.

The Board of trustees of the National Competitiveness Foundation of
Armenia decided to hold its next meeting on March 21 and 22, 2009.

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