Arsen Ghazaryan Re-elected as President of the Union of Manufacturers and Businessmen of Armenia

During the 9th regular assembly of the Union of Manufacturers and Businessmen of Armenia

(UMBA), Arsen Ghazaryan was unanimously re-elected as the President of the Union.

Expressing gratitude for the trust, the UMBA President called on his colleagues to actively pursue the protection of business interests, foster a favorable environment for economic activities, participate in legislative discussions, identify challenges faced by businesses and economic policies, and formulate and promote their solutions. He also emphasized ensuring the effectiveness of the private sector–state dialogue. Ghazaryan underlined the importance of involving professional and expert components, being proactive, enhancing communication, and deepening cooperation with other local and international organizations focused on economic issues.
“We must act constructively, with evidence and persistence, and voice economic issues as effectively and audibly as possible,” said Arsen Ghazaryan.

The assembly approved reports on the Union’s activities and property management for the period from November 2019 to October 2024, as well as the reports from the Audit Committee. An 83-member UMBA Council and an Audit Committee were elected.

At its inaugural meeting on December 13, following the assembly, the newly elected UMBA Council selected a 30-member Presidium. Nerses Karamanukyan, Krist Pilosyan, Armen Martirosyan, and Haykaz Bakhshetsyan were elected as Vice Presidents of the Union.

During the meeting, participants discussed ways to enhance the Union’s effectiveness, emphasizing the role of regional structures, active involvement in legislative processes, the formation of sectoral professional groups, joint discussions and conclusions with the economic community, and the establishment of institutional mechanisms for business–state cooperation.

Vruyr Penesyan, a UMBA Council member and President of “Business Partners of Armenia,” presented the project – the exhibition-sale of Armenia’s newly constructed buildings, scheduled to take place in Moscow on April 12–13, 2025. According to Penesyan, the exhibition will showcase not only Armenia’s real estate market but also the country’s investment opportunities to Russian partners. He also spoke about the upcoming “Armenia Days” in Monaco in June 2025, which will include a business forum.

Arsen Ghazaryan awarded Alexey Melnikov, General Director of “South Caucasus Railway” CJSC and a UMBA Presidium member, and Oleg Shatalov, Deputy General Director, with UMBA certificates of appreciation and gold medals for their significant contributions to restoring transportation infrastructure in Armenia’s regions following the devastating floods and for fostering cooperation between Armenian and Russian business communities.

The participants were also introduced to the inaugural release of the “Why and How?” book series, published under the initiative of the UMBA. The first issue highlights the life story of Khachik Vardanyan, the founder and director of Armenia’s largest bookstore chain, “Bookinist,” detailing his journey to becoming a successful entrepreneur.