PM Karen Karapetyan’s and Samvel Karapetyan’s fund to carry out USD 300 mln investment programs in Armenia

PM Karen Karapetyan’s and Samvel Karapetyan’s fund to carry out USD 300 mln investment programs in Armenia

“Investors’ Club of Armenia”, created by the initiative of Prime Minister Karen Karapetyan and President of “Tashir” group of companies, famous businessmen Samvel Karapetyan, plans to make USD 300 million investment programs in Armenia in 2017, Ashot Manukyan – Minister of Energy Infrastructures and Natural Resources, said at the Government session. Manukyan presented the draft memorandum of understanding to be signed between the Government and “Investors Club of Armenia” non-public contractual investment fund aimed at implementing joint programs which was approved by the Government.

Minister Manukyan said the MoU aims at further developing and deepening the public-private sector cooperation. The major directions of Government-Fund cooperation are development of tourism infrastructures and services, energy and energy infrastructures, mining industry, urban infrastructures and service, ICT and ICT infrastructure, as well as processing industry.

“The volume of programs planned for this year reaches USD 300 million,” the Minister said. PM Karapetyan attached importance to the Fund’s activity not only in terms of attracting investments, but also installing new business culture.

“The members of the Fund are quite famous, successful businessmen, they have wide connections in numerous countries, they have many partners, they are going to be a bridge between Armenia and those countries, as well as financial sources. Moreover, their entry to Armenia will be a certain signal for assessing structures. In this regard, we will provide a maximum support to the Fund’s establishment and will work very closely,” the PM said.

The Fund will be the Government’s partner on implementing public-private sector cooperation, will take part in the investment programs with its own resources sharing the risks. It will provide a real chance to finance great programs by this contributing to the acceleration of economic growth rates and creation of jobs. It will provide favorable conditions for individual investors and will ensure investments diversification by reducing the risks.

The launch of activities of “Investors’ club of Armenia” non-public contractual investment fund was officially held on March 25 with the participation of the Prime Minister of Armenia Karen Karapetyan and over 3 dozens of Diaspora Armenian businessmen from the Russian Federation.