Armenia's Minister of Economy, Kevoorg Papoyan, used the Dubai Investment Annual Meeting to declare Armenia's ambition to become a regional platform for technology and manufacturing, highlighting major AI projects and a drive for foreign investment.
Armenia's economic ambitions took centre stage in Dubai as Minister of Economy Kevoorg Papoyan made a direct pitch to global investors, declaring the country's intent to transform from a promising investment destination into a full-fledged regional platform for advanced industry and technology.
Speaking at a high-level ministerial roundtable during the fifteenth Annual Investment Meeting, Papoyan did not mince words: Armenia is ready to move beyond attracting capital and start exporting innovation, products and know-how to regional and global markets. The message was clear-Armenia wants to be seen not just as a recipient of investment, but as a serious player in the international value chain.
AI and technology projects take priority
Papoyan spotlighted the "Firebird AI Factory" project, a major artificial intelligence initiative being developed in Armenia in partnership with Firebird and Nvidia. This project, he argued, is emblematic of Armenia's new direction: leveraging international technology partnerships to build high-productivity, modern industries at home.
He outlined a policy agenda focused on technological modernisation, digital transformation and automation, with the next decade set to prioritise the creation of advanced manufacturing capacity. The minister made it explicit that foreign direct investment is not just welcome, but essential for Armenia's plans to build new production capabilities, transfer technology, and develop human capital.
Integration into global value chains
Beyond technology, Papoyan stressed the importance of integrating Armenian companies into global value chains. He argued that foreign investment is the lever for knowledge transfer and for embedding Armenian industry into international networks, rather than remaining on the periphery.
"Armenia is prepared to become a platform that brings together capital, technology and human potential to produce goods for both regional and global markets," Papoyan stated, signalling a shift from passive investment attraction to active industrial strategy.
For Dubai-based investors and companies, the message is unambiguous: Armenia is open for business, but the terms have changed. The country is seeking partners who will help build capacity, transfer expertise and participate in the creation of globally competitive industries-not just those looking for short-term returns. The real test will be whether Armenia can deliver on these promises and move from rhetoric to results. For now, the country's leadership is making a calculated bet that the next wave of investment will be driven by technology, not just capital, and that Dubai's investor community is ready to engage on those terms.
