YEREVAN , November 8. /ARKA/. NASDAQ OMX Armenia supports local broker companies in their efforts to improve services, Armen Melikyan, director general of NASDAQ OMX Armenia Stock Exchange, said Friday in an interview with ARKA News Agency.

He said the stock exchange and the Central Bank of Armenia are implementing “Study Tour” joint program for local investment companies, banks and issuers.

The program implies sightseeing tours of various institutions of capital market in foreign countries.

Exchanges, depositories, market regulators, investment banks and broker companies and listed companies are among these institutions.

The program also gives chances to Armenian market players to establish business ties with foreign colleagues.

Under this program, representatives of Armenian investment companies and banks toured Vilnius and Tallinn in 2008 and 2009.

Melikyan thinks many companies in Armenia are attractive to foreign investors, but high-quality services are needed to attract them.

“Even having NASDAQ OMX brand, Armenia can’t attract investors without proper services.”

That is why Armenian investment companies should reconsider standards of their services, Melikyan said.

He think that is not enough in this situation to implement only Study Tour program.

“But most important is companies’ willingness to invest in own business. If they do it, they will have immense incomes and high profits later,” Melikyan said. M.V.-0---