1 2 AmCham Board Contents Edward Mouradian Editorial ..............................................................................................4 President Prudence Law Firm AmCham Events ...............................................................................6 AmCham New Members ................................................................8 David Atanessian First Vice President Member to Member Program ..................................................... 12 First Mortgage Company Member News................................................................................16 Georgi Isayan Second Vice President and Treasurer The Environmental Threats to Humanity.....................................................26 LTX-Credence Armenia By Alexander Aramyan Ararat Ghukasyan Interview with Aram Harutyunyan...............................................................30 Director By Alexander Aramyan Byblos Bank Climate-Smart Agriculture...........................................................................36 Arthur Hovanesian By Gagik Sardaryan, CARD Synergy International Systems Combined Heat and Power Technologies .................................................40 Diana Ghazaryan By Zeppelin Armenia Director Booz Allen Hamilton Regional Ecological Problems.................................................………….....41 By Alexander Aramyan Gagik Arzumanyan Director The CSR Activities of AmCham Member Companies.................................46 Armenian Copper Program Gagik Gyulbudaghyan Environmental Education............................................................................52 Director By FPWC Grant Thornton Interview with Armen Stepanyan and Carl Nicholas...................................56 Garnik Tonoyan By Geoteam CJSC Director Ingo Armenia Interview with Gagik Danielyan...................................................................61 By Coca-Cola Hellenic Bottling Company Armenia Heiko Kreisel Director The Amulsar Project....................................................................................66 Zeppelin Armenia By Geoteam CJSC Karen Zakaryan Garbage Collection in Armenia...................................................................70 Director By Alexander Aramyan NASDAQ OMX The Law of Bills of Exchange......................................................................75 Tigran Gasparyan By Gor Margaryan, Legelata Law Firm Director KPMG The Challenges of the Millennium...............................................................77 By Zaruhi Furunjyan, KPMG Armenia Elizabeth Hanny Ex-Officio Member The Flexibility of Employement...................................................................78 U.S. Embassy in Armenia By Sedrak Asatryan and Suren Gomtsyan Executive Office Contacts Diana Gaziyan 1 Amiryan Str., Executive Director Armenia Marriott Hotel, 3rd floor, room 315, 317 Irina Chobanyan Yerevan, RA Member Relations Specialist Tel: (374 10) 599 187 Ani Sahakyan Fax: (374 10) 587 651 Communications Specialist E-mail: [email protected] Kristina Vardanyan Web: www.amcham.am Accountant Publisher American Chamber of Commerce in Armenia The content of this publication must not be reproduced in full or in part without prior written permission of the publisher. Designed by McCann Erickson Printed by Tigran Mets CJSC. 3 Editorial Diana Gaziyan Executive Director American Chamber of Commerce in Armenia Dear Readers, AmCham has devoted this issue of its Business Magazine to the topic of the environment, which is one of the most widely discussed topics today, on both the local and global levels. The growing population of our planet causes harmful effects on the environment, in order to satisfy demands for power, technology, land and water resources, etc. These human activities cause irreversible ecological damages and thus, affect the quality of our lives. Armenia, in this respect, is not an exception. Being a part of the “Caucasus Biodiversity Hotspot” and one of the 34 regions defined by Conservation International as outstandingly important for the protection of the globe’s biodiversity, Armenia is ex- posed to a number of risks and challenges in the field of environmental protection. Among some of the environmental issues that Armenia faces are the water level and pollution of Lake Sevan, land degradation, deforestation, air pollution, etc. The ecological situation in Armenia can not be viewed in isolation. It is undoubtedly linked to the regional and global processes going on in this sphere. Some of the common regional problems relate to the water streams and water basins. It is important to note that the conflicting countries of the region try to find common ground when it comes to ecology. As far as the global environmental issues are concerned, this issue of our magazine focuses on such phenomena, as acid rain, desertification and changes to biodiversity, the greenhouse effect, water basin pollution, and ozone layer depletion. These are the issues and challenges that can not be ignored both on either a governmental or individual level since, if not addressed properly, they will severely affect the lives of the current, and future generations. For instance, the depletion of the ozone layer will result in ultraviolet (UV) radiation, which in turn, can cause various diseases or worsen the condition of sick people. In order to prevent the environmental threats, each individual and business should take an active part in environmental protec- tion. Today, we can see that an increasing number of companies, both in Armenia and worldwide, strive to conduct business operations in a more environmentally cautious way by adhering to Corporate Social Responsibly (CSR) principles and prac- tices. For this reason, we have allocated a large amount of space in the magazine to environmental protection initiatives and to CSR activities of AmCham member companies. We encourage each and every one of you to be more protective of nature and to conduct business activities in ways that do not damage the environment. We believe that the environmental issues can only be solved through the combined efforts of humankind and that the future of the Earth is most certainly in the hands of caring and considerate individuals like yourself! Enjoy reading the magazine! 4 5 AmCham Events AmCham Friday Night Continuing the famous tradition of AmCham member companies present as learn and practice Latino dancing. Friday Nights, on October 19, 2012, at the event, which took place in Yan- Overall, the Friday Night proved to be kee Pub on Sayat Nova street. yet another successful social event, al- AmCham organized yet another casual lowing AmCham members to relax and get-together for its members. There The participants had a chance to so- spend time in a warm and friendly at- were representatives from around 40 cialize, enjoy beer and crawfish, as well mosphere. AmCham Membership Meeting with the Deputy Minister of Finance The recent changes in the Armenian the Deputy Minister of Finance, Vardan Pension System had raised many con- Aramyan. cerns among the AmCham member The Meeting took place on Novem- companies. This is why, AmCham or- ber 16, 2012, in Armenia Marriott Ho- ganized a membership meeting with tel. There were representatives from around 30 member companies present at the event. The meeting started with Mr. Aramyan’s speech on the latest changes in the RA pension system, fol- The meeting proved to be very effective lowed by a Q&A session, during which and informative, as Mr. Aramyan him- AmCham member companies raised a self promised to raise the questions of number of important issues. concern and follow up on the solutions. AmCham Breakfast Meeting with USAID Mission Director On November 30, 2012, AmCham organized an informal breakfast meet- ing with Dr. Karen Hilliard, the new Mis- sion Director of USAID Armenia. The breakfast meeting took place at the Ital- ian Cucina Restaurant of Armenia Mar- riott Hotel. Representatives from more than 20 companies were present at the meeting. The meeting started with Dr. Hilliard’s speech about USAID current and future projects in Armenia and success stories and achievements up to date, followed by a discussion on various issues with the participants. Dr. Hilliard's presentation was fallowed by discussion on various questions asked by AmCham members. Dr. Hill- iard expressed willingness to continue cooperation with AmCham. 6 AmCham Events AmCham Membership Meeting with Kansas Senator Chris Steineger In the framework of the U.S. Embassy The informal atmosphere, accompa- speech tour, Senator Steineger also nied with interesting discussion on vari- met with AmChams in Azerbaijan and ous issues made the event useful for Georgia. AmCham members. The meeting started with Mr. Steine- ger’s speech about democracy and re- On 14 December, 2012, AmCham cent elections in the U.S., transparency organized a meeting with Senator Chris in the government, as well as post- Steineger from Kansas city and his wife election mood and the general opinion Mrs. Shari Steineger. The meeting took about politics. The guests were given place in Queen Parandzem room of Ar- the opportunity to ask questions after menia Marriott Hotel. the presentation. AmCham Christmas Party AmCham is always loyal to its tra- located at Northern Avenue. and desserts, wine, and mimes to keep ditions, like the one connected with the participants entertained during the Around 80 invited guests participated Christmas celebration, which takes music breaks. in the event that provided an excellent place in December