In a country often defined by economic blockades and geographical isolation, the narrative is typically one of scarcity. However, according to Mr. Avetis Aghabekyan, an independent financial expert, that story couldn't be further from the truth. In a compelling and data-driven assessment, Aghabekyan argues that Armenia is not starved for cash; rather, it is suffering from a drought of credible,high-quality investment opportunities. He directly challenged the prevalent misconception that Armenia must look abroad for every dollar, asserting that the nation is sitting on a mountain of domestic capital, with several billion dollars lying idle, waiting for the right opportunity.

"The real deficit is not in funds," Aghabekyan argued, "but in the quality and credibility of the projects seeking them. The question isn't where the money will come from; the question is about the readiness of businesses to be transparent, accountable, and to inspire confidence in investors."

To illustrate his point, Aghabekyan provided a stark snapshot of the country's idle liquidity, highlighting a massive pool of investable capital currently parked on the sidelines. He pointed to a staggering $2.5 billion gap between customer deposits, which sit at roughly $14 billion, and the approximately $11.5 billion in loans extended by banks. This money is not invested; it is sitting in banks, earning minimal returns due to a lack of trustworthy lending opportunities. Beyond these deposits, the banking system's own collective equity capital totals around $3.5 billion, which is money that must be deployed to generate returns for shareholders. Furthermore, the country's pension funds are managing assets exceeding $2 billion, all mandated to seek long-term, stable investment opportunities within the local economy. When adding capital held by credit organizations, insurance companies, and investment firms, the picture becomes even clearer.

"Banks have also attracted loans from various international organizations through preferential mechanisms, which are ready to be distributed," he explained. "There is simply no shortage of money in Armenia. If a genuinely good, reliable, and transparent investment project is developed, it will not face a financing problem."

When asked where the most fertile ground for such investment lies, the expert pointed to sectors capable of exponential growth that can transcend Armenia's physical limitations. While acknowledging potential in traditional areas like construction and services, he reserved his highest praise for industries unconstrained by geography.

"The financial sector and Information Technology stand out," Aghabekyan stated. "They have a much higher growth potential that can be exponential. Unlike many other sectors of the economy, their growth is not limited by our landlocked position, closed borders, or population size.

" In his view, a great idea in Yerevan can serve the entire world, and that scalability is precisely what serious investors are looking for. According to Aghabekyan, the final piece of the puzzle rests with Armenian entrepreneurs. The capital is available, the sectors are primed, and the potential is undeniable. The remaining challenge, he argues, is a cultural one. The key to unlocking this idle capital and turning billions on the sidelines into a roaring engine of economic growth is a fundamental shift toward greater transparency, robust corporate governance, and a commitment to bankability.

By Liana Aghajanyan