On March 5, the Russian-Armenian University held the RAU Global Forum. Economics, with graduates of the RAU Institute of Economics and Business of over 19 years gathering together. The agenda of the forum was very extensive: interesting meetings, business and entertainment events, success stories, and discussions with invited speakers, distinguished economists of Russia and Armenia.

 

RAU Rector Armen Darbinyan and Director of the Institute of Economics and Business Edward Sandoyan made opening remarks. As eminent experts in economics, the professors have spoken not only about the success of the university, primarily noting the high rating of RAU today according to different criteria both in Armenia and in the region, but have also addressed the key challenges and problems that Armenia is currently facing.

 

Armen Darbinyan has also mentioned numerous changes and acquisitions during the years of formation of Economic Studies at the university. RAU hosts many important and relevant forums and conferences with the participation of graduates who have not lost touch with the university.

 

"We have scored a lot of goals during this period. Each of our graduates is our scored goal! Many of you today are decision-makers in a lot of companies and government agencies. There are numerous people among our graduates today who make crucial decisions in terms of the investment climate in our country and the specific implementation of specific business projects. Your engagement in the educational, creative and scientific process at the university is very important to us, because one of our slogans goes like this: "University is the place where you come back." That is why, it is precisely this goal that today's global forum, in particular, aims to achieve. We have tried to make it interesting for you from a professional point of view as well as in terms of your further growth," - RAU Rector Armen Darbinyan said.

 

In his turn, Director of the Institute of Economics and Business Edward Sandoyan noted: "Today we will have a very interesting scientific conference with discussions. We have been joined today by such respected specialists to whom we should be grateful. I must say that university activities have a unique feature - the development of the educational process coupled with scientific approaches."

 

Platforms for discussion of relevant economic topics have been opened following the panel sessions. Topics included the financial sector of Armenia; economic and regional development of the republic; prospects and challenges of the development of the technological sector of the country's economy; problems of interaction between business community and education sector, as well as problems of ensuring sustainable long-term economic growth. The leading experts of the country have delivered reports regarding each of these areas.

 

Karen Avagyan, Director of Strategic Development Center of Armenia Foundation, has spoken about 4 main reasons for the accelerated pace of economic development in Western countries, presenting four points of the nation's welfare growth: guarantees of property rights, capital markets, freedom of movement and scientific rationalism.

 

"It is necessary to focus on investments as the main goal, and, as such, to stimulate enterprises to attract these investments, to stimulate the establishment of industry funds, direct investments with a high level of profitability, and, finally, to test investment stimulating instruments," he said.

 

Narek Khublaryan, Head of Microfinance Organization's Supervision Division at the Central Bank of the Republic of Armenia, Ph.D. in Economics, and a 2006 RAU graduate, has also made a presentation, noting three main directions in which work should be improved.

 

"The first task is solving problems in the field of influence, the very field of influence that is somehow included in that of the Central Bank. This is the entire financial system, financial market participants and so on, that is, all the problems that have been discussed here as well. Surely enough, our capabilities have not been developed to the fullest. The Central Bank understands this and is doing its best to develop these full-fledged opportunities," - Narek Khublaryan said.

 

The speakers have also presented ways to solve particular tasks for the transformation of the financial system and the development of the economy of the Republic of Armenia.

 

After the official part of the event, guests and speakers enjoyed good music, recalling their student years.

 

Russian-Armenian University has reunited not only its graduates and teachers, but it has also gathered and rallied the leading economists of Armenia. Such is the collective assessment of the participants of the RAU Global Forum. Economics that took place the day before.

 

Almost all participants have noted that the RAU Global Forum, within which topical discussions on key economic issues took place, was important not only in scientific and professional terms, but also in terms of communication. It has given an opportunity to meet and to communicate, and – for many graduates – to reminisce about their student years.

 

"It's so wonderful to remember my student years, when after classes I wanted to stay longer to study, chat, and take a walk in our beautiful park. Thank you for giving me such an opportunity to prove myself both in a professional environment and in terms of creativity," Lusine Manukyan, a 2017 graduate, said.

 

"I actually didn’t leave the university because I teach here. This forum made it possible to meet with groupmates and professors again. For me it was a great honor to be a speaker. It was an excellent opportunity to share and gain new knowledge as well as meet new people. Graduation from university is not the end of education, this is the advice I give my students: both during student years and after, you do not stop learning, you gain new knowledge and apply it in practice," - shared his impressions Ruben Gasparyan, a 2014 graduate, lecturer at the RAU Institute of Economics and Business.

 

Students also had the opportunity to listen to experienced specialists, leading experts and true professionals in their field. The forum was also broadcast online.

 

"Many of our graduates have reached greater heights today, and, consequently, they have something to say, something to share. By and large, all our sections were organized in such a way that experts could share their experience," Mariam Voskanyan, Head of the Department of Economics and Finance of the RAU, PhD in Economics, who herself is a graduate of the Russian-Armenian University, said.

 

It should be added that all the interviewed participants have unanimously noted the wonderful end of the day. According to them, the evening was really very welcoming, "everything was amicable and exciting."

 

 

Translated by Sofiya Safaryan,
I year Master’s Student in Translation & Interpretation, RAU