EU4BUSINESS IN ARMENIA

The vast majority of businesses in Armenia are SMEs. They are responsible for nearly 80% of all jobs in the country. Despite this, they make up only 27% of Armenia’s GDP. EU4Business works to build a conducive business and investment environment to help SMEs reach their full potential. Programmes improve access to finance and new markets, target women entrepreneurs and SMEs working in green energy and also encourage social entrepreneurship. EU4Business is part of the EU’s wider efforts in the country which make it one of Armenia’s main economic partners.

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News/Press

Armenia Armenia is unlikely to have 2020 tourism season, Armenian Tourism Association states. “Keeping the positions for 3 months, the tourism sector gives up by cutting the staff”, reads the statement raising the issue of Armenia’s land border with...

Success stories

Art Lunch , an Armenian enterprise providing food, catering and hospitality services, has been able to move to e-marketing model that increased turnover by 78% and improved sales by 31% with EU4Business support through the EBRD’s Advice for Small Businesses programme. In turn, the company has been supporting Armenia by providing food to 1,500 COVID patients and individuals who have become...
EBRD and EU4Business help AugmentAR look to the future Just a few years ago, 3D printing belonged more to industrial settings than to people’s homes. The rapid evolution of the field and the growth of the market mean that 3D printers are now available at affordable prices to consumers, so everyone can create their own kitchen utensils, toys and DIY tools. In Armenia , the AugmentAR team, which is...
The earliest known winery in the world, unearthed in a cave in Armenia, dates from about 6,100 years ago. One of the oldest modern-day enterprises in Armenia, Voskevaz Winery LLC, has been taking the best traditions of vintners beyond Armenia to new markets. Based on a strategic development plan put together with the support of EU4Business, two key goals are increasing sales 21% and expanding...