U.S. goods and services compete successfully for market share, and there has been a notable increase in U.S. investment in Armenia over the last five years, particularly in the mining and energy sectors.  For example, Lydian’s Amulsar mining project, which is currently stalled, and ContourGlobal’s investment in the Vorotan Hydropower Plant have been two of the largest foreign investments in Armenia.  Sectors in which U.S. companies have key opportunities include conventional and renewable energy, including civil nuclear technology, agriculture, extractives, tourism, high tech, and retail.  There may also be new possibilities in emerging areas such as wine, textiles, and pharmaceuticals.  A longstanding decline in Armenia’s public capital stock as a share of gross domestic product implies that U.S. businesses should stay attuned for opportunities to participate in major infrastructure projects, including for highways/transportation routes and utilities.  The development of legislation and implementing regulations around public-private partnerships stands to give U.S. firms new means of participating in such projects.