YEREVAN, September 11. /ARKA/. The depth of Armenia’s capital market still lags behind the country’s real economic potential, said Mikael Margaryan, CEO of the investment company Cube Invest.
“Our economy is small, but rapidly transforming. Our technology sector is internationally advanced. The banking and financial systems are generally stable and very well regulated. At the same time, the depth of the capital market still lags behind the real potential of our economy,” Margaryan said at the “Investment Prospects 2026” forum in Yerevan.
According to him, this gap must be closed through consistent efforts. Margaryan noted that the capital market is an important link in transforming savings into investments, and investments into economic development.
“Without this link, companies grow more slowly, investors choose from a more limited set of instruments, and the economy continues to depend primarily on a single source of financing,” he said.
At the same time, Margaryan emphasized that capital market development cannot be achieved by a single entity and requires the formation of a comprehensive ecosystem.
According to him, this ecosystem must include a regulator that fosters trust, a government that prioritizes the role of the market, a developing exchange, prepared investors, and issuers willing to become more transparent and public.
