YEREVAN, March 5. /ARKA/. It is possible to underwrite from $500 million to $1 billion annually in Armenia, CEO of Armenian Securities Exchange (AMX) Hayk Yeganyan said today.

"There is a very large base of potential investors and $10 billion in savings. There is a liquid base for investment and very good potential issuers. There are companies that are ready to raise from $10 million to $200 million through the securities markets," Yeganyan said during the first investment and financial forum "Armenian Capital Markets: Future Outlook.'

He noted that due to the absence of broker-dealers there is a lack of investment bankers and  secondary securities market.

"Whoever takes up this business first will get a head start," Yeganyan said. According to him, the capital market in Armenia did not develop much earlier because it lacked tools. 

Yeganyan singled out  as positive factors the good legislative framework,  the regulator and infrastructure. He also stated that in recent years Armenia's jurisdiction has become interesting due to geopolitical developments.

Yeganyan emphasized the financial education of the population, as, according to him, "financial literacy in Armenia is at a low level". 

ARKA and AMI Novosti Armenia  news agencies are the information sponsors of the forum. -0-