On March 4, 2021, a Memorandum of Intent was signed between the RA Ministry of Economy and the “Corporate Governance Center” Foundation.

The Memorandum was signed by the RA Minister of Economy Vahan Kerobyan and the Director of the “Corporate Governance Center” Foundation Narine Melikyan.

The objective of the Memorandum is to facilitate through joint efforts adoption of the anti-corruption compliance requirements in the business sector of Armenia, promote the cooperation between “the state and business community” in ensuring anti-corruption compliance.

According to the Memorandum, the parties undertake to assist the Armenian business community in understanding the anti-corruption compliance requirements. For that purpose, events (courses, seminars, roundtables, conferences, etc.) aimed at raising the awareness of the business community representatives will be jointly organized.

The Corporate Governance Center will provide the community representatives with free consulting assistance on anti-corruption compliance, whereas development of collective anti-corruption initiatives in Armenia will be promoted by the Business Ethics Club.

Other activities and measures will be realized aimed at adoption of the anti-corruption compliance requirements in the business community of Armenia.

“By signing this Memorandum, the Ministry of Economy and the Corporate Governance Center are joining efforts to ensure together the widespread dissemination of ethical rules and perception of anti-corruption compliance in the business environment of Armenia. It is very important for Armenia that businesses trust each other, as well as trust the state. In this regard, the Corporate Governance Center has undertaken a very important mission, and we are ready to support it”, Vahan Kerobyan said after signing the Memorandum.

“For years our organization carried out its mission to spread the good culture of corporate governance in Armenia. Prior to signing this document, we cooperated with the Ministry of Economy, but documenting it this way had not taken place yet. The Center has come up with a very important initiative, which is establishment of a business ethics club with 23 members who are business representatives - individuals who have a commitment to corporate governance. With our joint efforts, through experts’ work, as well as cooperation with state and non-governmental organizations, we shall support solution of these problems and make the arena more transparent, accountable, and honest”, said Narine Melikyan, the Director of the Corporate Governance Center.

With the funding of the US Center for International Private Enterprise (CIPE), the “Corporate Governance Center” implements the grant project titled “Armenia: Empowering the Private Sector to Support Democratic Transition”.

On October 3, 2019, the RA Government adopted Decision No.1332-N on “Approving the anti-corruption strategy of the Republic of Armenia and the action plan for its implementation for 2019-2022”.