Armenia’s capital market has greater potential for development: major interna

The second Armenian Investment and Financial Forum was held in Yerevan under the theme “A Time of Opportunity: Armenia in the New Architecture of Global Markets”.

The event brought together more than 1,000 participants on a single platform, including representatives of state institutions, the financial sector, major businesses, international organisations, technology companies and the expert community.

One of the forum’s significant symbolic moments was a ceremonial first chess move dedicated to the school chess tournament to be held in Tsaghkadzor and the opening of the European stage of the World Team Championship. International Chess Federation (FIDE) President Timur Turlov, who visited Armenia specifically for the tournament, took part in the ceremony. His presence at the forum brought together ideas shared by the worlds of finance and chess: strategic thinking, calculated decision-making and a long-term vision for the future.

The symbolic first move was not only a memorable moment at the event but also highlighted the importance of educational and youth initiatives, demonstrating that future approaches to economics and investment are also shaped through education, analytical thinking and a culture of strategic planning.

The forum’s business programme included a plenary session, a series of panel discussions, discussions involving international experts, special announcements and partnership events. Discussions focused on the development of Armenia’s capital market, new opportunities to attract investment, the country’s integration into the international financial system, the role of banks and brokers in developing the financial ecosystem, and the impact of technology and artificial intelligence on the future of the financial sector.

The plenary session, entitled “Armenia in the Global Economy: Through the Lens of Capital Markets”, examined ongoing transformations in the global financial system and the opportunities these changes could create for Armenia.

One of the key speakers at the plenary session was Timur Turlov, founder and Chief Executive Officer of Freedom Holding Corp. and President of the International Chess Federation. He addressed the prospects for developing Armenia’s capital market, the opportunities the country offers international investors and the importance of developing modern financial infrastructure.

The forum’s panel discussions covered capital market development, cooperation between banks and brokers, financial technology, digitalisation, artificial intelligence, financial literacy and human capital.

A separate discussion examined the pivotal role of capital markets in shaping Armenia’s economic future. Speakers addressed the development of equity and bond markets, opportunities for Armenian companies to enter public markets, prospects for initial public offerings (IPOs), the role of stock exchanges in attracting foreign investment and the potential of the capital market as an additional source of business financing.

Participants in the panel discussion “Banks and Brokers: At the Foundation of Armenia’s National Prosperity” addressed the complementary roles of banks, brokers and the regulator in the financial system, opportunities to serve international clients, the diversification of financial services and the development of an investment culture.

The technology strand was presented through the panel discussion “Digital Horizons: How Technology Is Changing Finance”. Topics included the growing role of artificial intelligence, the digitalisation of financial services, fintech development, the importance of digital identification, new payment solutions and wider access to investment services.

Another important moment at the forum was the announcement that Team Holding’s bond programme had been fully placed. It was announced during the event that Team Holding, with the involvement of Freedom Broker Armenia, had completed the placement of the third and final tranche of its bonds, as well as the full amount specified in the programme prospectus.

The third tranche of US dollar-denominated bonds totalled US$12.5 million. Across the entire programme, bonds worth a total of US$31.5 million and 1.4 billion Armenian drams were placed. The transaction was presented as an example of the practical development of Armenia’s capital market, demonstrating that local businesses can raise financing through capital market instruments as well as traditional bank lending.

During a briefing with journalists, Freedom Broker Armenia Director Hovak Hovakimyan welcomed the successful placement of Freedom Holding’s bonds in three tranches. He said this was a very important step and that such partnerships could serve as an example for other organisations.

“This can also contribute to our country’s overall economic growth. Next year, we will remain active, seeking to cooperate with large organisations that drive economic growth in Armenia. It is very important that bond placements of this kind can take place in Armenia. Our holding company has a range of investors. When we succeed in bringing international investors to Armenia, that is already a major step, because it brings international capital into our country. The number of our investors is growing, and there is no constraint or obstacle preventing us from continuing to operate in the capital market, which, incidentally, continues to grow quite rapidly. If we offer an investment instrument to the world, it must be attractive to potential investors, and if we present it properly, more international capital will come to Armenia,” Hovakimyan said.

He recalled that their academy, Freedom Academy, which runs educational programmes, opened two years ago and that 30,000 people had already been introduced to those programmes.

“Working with the capital market is much easier now than it was two years ago. I believe we will make further progress, because Armenia has that potential. We will do everything we can to make our country the region’s main platform, especially since developing the capital market in Armenia has become an imperative of our time,” Hovakimyan said.

Hayk Yesayan, co-founder and Director of the Team group of companies, said the bond placement had been completed ahead of schedule.

“The funds will be invested in infrastructure development, including logistics and energy infrastructure, which will allow us to create new jobs. This also represents a gain in trust, because we see that our investors increasingly trust us. They are also satisfied with the investment opportunities we create. This is mutually beneficial cooperation, because we issued the bonds with Freedom Broker Armenia, and today we are pleased to announce that the bonds have been sold in full,” Yesayan said.

In his view, one of the first indicators of a company’s ability to raise funds is trust in the company and the transparency of its operations, from decision-making to comprehensive reporting.

The forum also featured partnership and special events, including the signing of a memorandum of cooperation between Freedom Broker Armenia and Juventus Academy Armenia.

The second Armenian Investment and Financial Forum continued to develop the platform established by the previous forum, expanding both the range of participants and the scope and depth of the topics discussed.

One of the forum’s main messages was that the further development of Armenia’s financial market requires strong institutions, a reliable regulatory environment, modern technology, a developed investment culture and sustained cooperation between the state and the private sector.

The participation of more than 1,000 people once again demonstrated that the development of Armenia’s capital market, investment and financial system attracts considerable interest among both local and international business and expert communities.