Financial crisis will help cleaning capital market of small companies

PanARMENIAN.Net - Capital market development and implementation of public deals mechanism will be discussed at "Capital Market in Armenia" Conference to be launched in Yerevan on. Feb.27.



"Armenia has registered progress in development, creating certain preconditions for financial market development. Another precondition is the presence of NASDAQ OMX in Armenia as well as the activities of Armenian Government aimed at capital market infrastructure reforms. Both the public and major companies are interested in applying new instruments to raise funds", Grant Thornton Amyot Auditing Consulting Firm Stockholder Gurgen Akopyan said.



NASDAQ OMX Armenia Stock Exchange Director Armen Melikyan says the development level of any market depends on the education level of its participants.

''The main goal of the conference is to instruct representatives of our market how to use new instruments of attracting investment, which, will help them develop after the crisis. Financial crisis has also positive sides i.e. it will help cleaning the market. While part of the companies will leave the market, the remaining will have new possibilities for attracting investments, though not large", Melikyan said.



The forum organizers are: Grant Thornton Amyot (GTI) Accounting and Consulting Firm with the assistance of Central Bank of Armenia, Ministry of Economy, NASDAQ OMX Armenia Stock Exchange, American Chamber of Commerce in Armenia (AmCham), Financial Sector Development USAID Program. ''Grant Thornton Amyot is ready to assist any company in obtaining information on Capital Market'', Gurgen Hakobyan said.