A reputable real estate development company - Preparation of concepts and business plans for two investment projects. Financial advisory assistance in various issues related to structure of financing of existing and major new projects of the company. Review and improvement of the financial and accounting reporting processes of the company.

A major mining company - Business valuation of 100 % of shares of two major metals and mining companies in Armenia for the purpose of obtaining loan financing from major international financial institutions. The assignment included review of market information on the major products of the companies, development of financial models under various financing structures and scenarios for discounted cash flow valuation and conducting valuation of the shares using various relevant applicable methods.

A chain of food service companies -  Review of management information and internal control systems of a chain of service companies in Yerevan. The work concluded by developing specific recommendations for improving the information and control system in the company, and developing recommendations to the analysis and use of financial and managerial information of the company for control purposes.

The IT industry sector development state agency - Assistance in designing and implementing IT sector development activities on IT certification and productivity improvement. Specific tasks performed included:

- Review of current experience of various organizations and entities in international standards; Study relevant international standards for enhancing global competitiveness of the local IT industry; Assessment of needs and demand of local IT industry in international recognized certifications and standards; Review  experience and capacity among consulting and training institutions in Armenia in providing consulting and training aimed at improving software development processes; Assist in establishing linkages with globally recognized certification bodies and organizations and determine modalities and costs for adopting standards by IT companies in Armenia;

 -  Preparation of a long-term, dynamic, and all-inclusive strategy focused on increasing productivity of the individual companies and overall industry through certificate programs, training initiatives, and other means; make sure that the strategy is in line with other industry’s long-term strategic goals and relevant initiatives; For the project and its subcomponents, prepared detailed action plans with human resource needs, local and prospective partner lists, budgets and financial projections for the future support programs. Developed a funding mechanism for the implementation of proposed activities. Collaborated with Armenian IT companies, associations, government agencies, donors, universities, financial institutions, and other stakeholders on the various IT/High tech programs and activities.


A National social housing foundation – Developing a business plan for a social housing compound in Dilijan, Hrazdan and other towns.

A reputable real estate development company – Assisting to prepare a comprehensive plan-budget for 2011 and improving the budgeting process in the company. Market research and developing financial models for two new investment projects.

A fashion and haute couture house – financial management and ongoing accounting outsourcing assignment.

A manufacturer of paper and cardboard products – Assistance with development of information documents related to company’s investment projects.

A retail network company – Review of internal control system and assistance with development of reporting system.

A private real estate investor – a market  research on residential housing in Yerevan, development of the alternative commercial concepts of sales and operation, and the financial model of a large residential complex in Yerevan (16,000 sq.m.).

A leading supermarket chain – Business process improvement project. Design of the corporate governance system.

A boutique hotel in Yerevan – A valuation of business/shares.

A leading microfinance institution – Assistance with development of a strategic Business Plan for business transformation.


A national postal operator – Assistance with development of a Business Plan for expansion to a new market.

A private investment fund operator – Outsourcing of internal audit function.

A private investor – Assistance with development of a Business Plan for establishing a brewery.

A National social housing foundation – Developing a business plan and loan application for a social housing compound in Vanadzor and Ashtarak.

A leading microfinance institution – Ad hoc advisory assistance in various business development issues.

A pharmacy retail chain – Assistance with preparation of a business plan for investing in manufacturing of OTC drugs


Agence Francaise de Developpement (AFD) – Assistance with introduction of EUR 20 million Social Energy Efficiency Program

Green Farmer LLC – Preparation of a business plan for 11 ha vegetable greenhouse in Armenia

ENPARD – Developing approaches and activity plans for implementing various activities related to Disaster Risk Reduction practices in agriculture, introduction of General Agricultural Practices, designing activities related to capacity building of the sector participants

A private investor – Feasibility study of investing in a private health clinic in Armenia

Asian Development Bank (ADB) – Urban finance and economic support consultant for preparation of long term City development plans for four cities (Gyumri, Dilijan, Vanadzor and Jermuk)

European Investment Bank (EIB) – Methodology development and oversight for revaluation of fixed assets of five water utility companies in the framework of Asset Registration and Valuation for State Committee of Water Economy project

Eurasian Logistic Park FEZ – Assistance with preparation of a business plan and package of documents for application to the Government for obtaining status of Free Economic Zone (FEZ) operator in Armenia 

Agence Francaise de Developpement (AFD) 


Armenian Copper Programme


Asian Development Bank

British Embassy Yerevan

Capital Asset Management

Enterprise Incubator Foundation



Eurasian Logistic Park

European Investment Bank 

Europe Hotel


Green Farmer LLC

HayPost CJSC


Vahakni Residential Community