New EU twinning project launched | EUNewsletter

New EU twinning project launched

19 October 2015
ARS_3807

The new EU twinning project between Armenia and France started officially on 15 October 2015. The EU Delegation to Armenia, the Armenian Ministry of Economy, and Business France have signed a twinning contract on “Strengthening the investment promotion and investment policy institutional framework of Armenia”. Twinning is an EU instrument for institutional cooperation between the public administrations of EU member states and selected beneficiary countries in the European Neighbourhood.
The overall objective of the new twinning project is to contribute to higher economic growth in Armenia, increased productive capacities for the economy, job creation, innovation and technology transfer through foreign direct investment (FDI).
ARS_3735Garegin Melkonyan, the Armenian Deputy Minister of Economy, thanked all partners for the successful launch of the new twinning project: ‘Today we are starting the investment twinning project and I want to underline that, due to twinning procedures, the project preparation process was very long. Twinning implementation in Armenia started in 2009 and we have already succeeded in implementing 20 projects. It has always been very effective and useful for all Armenian institutions. The goal of all these projects was to study the European experience and apply it in Armenia’.
Jean-Francois Charpentier, the French Ambassador to Armenia, praised the new links between Armenia and France: ‘As the French Ambassador to Armenia I am very pleased that the twinning project we are launching today is between France and Armenia. I am sure that the participating Armenian and French institutions will jointly implement this project with great success’.
ARS_3768David Hubert-Delisle, the Deputy Executive Director of Business France, described the role of the twinning adviser: ‘The twinning adviser for this project will spend 16 months in the country to make the project successful. We will send 15 specialists here who will work with Armenian colleagues. We will provide technical assistance, advice, and training; however, we don’t come here to lecture, we are here to build a partnership’.
The twinning project is aimed at increasing the volume of annual FDI inflow into Armenia by supporting the Development Foundation of Armenia (DFA) and Armenian Ministry of Economy in their efforts to become more effective in promoting investment and in implementing investment policies. The direct beneficiaries of the project are the Ministry of Economy and DFA. The project is funded by the EU with a budget of €810,000.
The twinning project has 3 components:
1. Aftercare services development
This component will reinforce DFA’s capabilities to better service foreign investors and their expansion in Armenia, and integrate FDI into the local economy;
2. FDI strategy development and investment climate improvement
The objective of this component is to support the investment policy department of the Ministry of Economy to develop a sound national FDI strategy, set the vision, goals and targets for FDI, and clearly describe expected FDI impacts and benefits. Assistance will be given for the identification, development and operation of investment incentive schemes for targeted sectors.
3. Investment promotion and policy advocacy
The objective of this component is to adopt best practices in investment outreach programmes and provide assistance in developing selected investment promotion tools, raising DFA’s credibility as an investment authority.

New EU twinning project launched

The new EU twinning project between Armenia and France started officially on 15 October 2015. The EU Delegation to Armenia, the Armenian Ministry of Economy, and Business France have signed a twinning contract on “Strengthening the investment promotion and investment policy institutional framework of Armenia”. Twinning is an EU instrument for institutional cooperation between the public administrations of EU member states and selected beneficiary countries in the European Neighbourhood. The overall objective of the new twinning project is to contribute to higher economic growth in Armenia, increased productive capacities for the economy, job creation, innovation and technology transfer through foreign direct investment (FDI). ARS_3735Garegin Melkonyan, the Armenian Deputy Minister of Economy, thanked all partners for the successful launch of the new twinning project: ‘Today we are starting the investment twinning project and I want to underline that, due to twinning procedures, the project preparation process was very long. Twinning implementation in Armenia started in 2009 and we have already succeeded in implementing 20 projects. It has always been very effective and useful for all Armenian institutions. The goal of all these projects was to study the European experience and apply it in Armenia’. Jean-Francois Charpentier, the French Ambassador to Armenia, praised the new links between Armenia and France: ‘As the French Ambassador to Armenia I am very pleased that the twinning project we are launching today is between France and Armenia. I am sure that the participating Armenian and French institutions will jointly implement this project with great success’. ARS_3768David Hubert-Delisle, the Deputy Executive Director of Business France, described the role of the twinning adviser: ‘The twinning adviser for this project will spend 16 months in the country to make the project successful. We will send 15 specialists here who will work with Armenian colleagues. We will provide technical assistance, advice, and training; however, we don't come here to lecture, we are here to build a partnership’. The twinning project is aimed at increasing the volume of annual FDI inflow into Armenia by supporting the Development Foundation of Armenia (DFA) and Armenian Ministry of Economy in their efforts to become more effective in promoting investment and in implementing investment policies. The direct beneficiaries of the project are the Ministry of Economy and DFA. The project is funded by the EU with a budget of €810,000. The twinning project has 3 components: 1. Aftercare services development This component will reinforce DFA’s capabilities to better service foreign investors and their expansion in Armenia, and integrate FDI into the local economy; 2. FDI strategy development and investment climate improvement The objective of this component is to support the investment policy department of the Ministry of Economy to develop a sound national FDI strategy, set the vision, goals and targets for FDI, and clearly describe expected FDI impacts and benefits. Assistance will be given for the identification, development and operation of investment incentive schemes for targeted sectors. 3. Investment promotion and policy advocacy The objective of this component is to adopt best practices in investment outreach programmes and provide assistance in developing selected investment promotion tools, raising DFA’s credibility as an investment authority.