Philip Morris Armenia's Investment Programs: An Opportunity for Armenia's Science and Economy
Countries that invest in research and development gain a significant competitive advantage. In the case of Armenia, R&D-focused multinational corporations drive the adoption of cutting-edge technologies, knowledge transfer, and skill development through capital investments. The Philip Morris Armenia Research Center, established with over 13 billion in investments, is a vivid example of the value such companies bring.
The 268 scholarships and research grants provided by the company have directly contributed to the scientific and educational development of Armenia, fostering a new generation of researchers, engineers, and innovators. This is not just an economic benefit but also an investment in Armenia’s human capital, furthering the growth of a knowledge-based economy.
Moreover, the creation of state-of-the-art infrastructure, such as the aerosol laboratory, which is unique in the CIS and EAEU regions, positions Armenia as a hub for technological testing and innovation, strengthening our country's position in the global technological landscape.
To gain insights into the lab's operations and the results of the joint efforts carried out as part of post-investment services, the Enterprise Armenia team visited Philip Morris Armenia on October 29.
Levon Ohanesyan, General Director of Enterprise Armenia, emphasized the importance of multinational corporations in enhancing Armenia’s investment attractiveness and fostering a competitive economy, using Philip Morris Armenia as an example. He highlighted the team's work in representing Armenia globally. "It is truly encouraging to see our young scientists and tech innovators upholding Armenia’s scientific and technological heritage. Companies like Philip Morris provide opportunities for them to play pivotal roles in global technological advancements," Ohanesyan added.
Gurgen Madoyan, Head of the Philip Morris Armenia Research Center, also stressed the importance of national investment bodies that create favorable conditions for multinational corporations. He noted that sometimes, we encounter challenges that require support from the state, private sector, and various institutions, and linking mechanisms between them are essential; "Multinational corporations are highly pragmatic and pay close attention to the specific characteristics of a country and its region. They value Armenia’s scientific and engineering potential but also place great importance on the flexibility of the investment environment. In this regard, we need strong partners, and Enterprise Armenia is exactly that partner."
Collaborations with multinational corporations not only shape our economy today but also lay the foundation for a knowledge-based future. By continuing to attract global leaders like Philip Morris, we are unlocking Armenia’s limitless potential, driving innovation, and positioning our country as a center of excellence on the international stage.