ArmInfo. Armenian Minister of Economy Gevorg Papoyan received a delegation led by Valerio Iachizzi, Secretary General for Sport at the International Automobile Federation (FIA), the parent company of Formula 1.
During the meeting, the parties discussed opportunities for
developing cooperation between Armenia and the FIA, including within
Formula 1, aimed at fully realizing the industrial and engineering
potential of motorsports, stimulating tourism through the
organization of international events, and enhancing Armenia’s
investment attractiveness and strengthening its position in the
global market.
Gevorg Papoyan presented the country’s economic development
priorities and ongoing infrastructure programs, emphasizing the
importance of strengthening international partnerships, actively
engaging the private sector, and creating a favorable investment
climate. The Minister reaffirmed the Armenian government’s
willingness to support joint initiatives and consider proposals of
mutual interest.
It should be noted that the FIA is the governing body of Formula 1
racing. It is a non-profit organization responsible for regulating
and overseeing all aspects of the sport, including safety, technical
regulations, and sporting rules. The FIA was founded in 1904 and is
based in Paris, France. It comprises 246 member organizations
worldwide, including national automobile clubs, manufacturers and
suppliers.
