2024-08-29 23:24:31
Ameriabank Independent Board Member Philip Lynch has been in the world of finance for over 30 years. His evaluations and analyzes regarding Armenia’s economy are extremely interesting.
Can Armenia follow the path of the Asian model of economic development? What challenges and development prospects do we have? What is the way to overcome 2020 and restore the real economy?
“The Asian development model is partially applicable for a country with an economy and history like Armenia, especially in the context of the transition to a market economy. As a CIS country, there is a clear orientation towards the market economy and improving the living standards of citizens. This is how Armenia and Ameriabank are. The orientation towards the country, civil society and towards the customers is very clear. I think all this is a very good reflection of what happened in Asia. The geographical location should also be mentioned. Armenia is located at the historical crossroads of world trade connecting the East and the West. The Diaspora factor is also important. In this sense, it seems that the connection between Armenia and the world is ensured in a normal way. And finally, hard work is also important. The number one factor characterizing the Asian economic miracle is hard work, focus on education, improvement. I see all this in all my interactions with Ameriabank.”
We recommend watching Philip Lynch’s interview in full.