Armenia to establish state interest fund
18.04.2019,
16:15
Armenia’s government decided today to establish the State Interest Fund. Economic Development and Investments Minister Tigran Khachatryan said its main purpose will be to assist in the development of economy through attraction of both local and foreign investments.
YEREVAN, April 18. /ARKA/. Armenia’s government decided today to establish the State Interest Fund. Economic Development and Investments Minister Tigran Khachatryan said its main purpose will be to assist in the development of economy through attraction of both local and foreign investments.
"This is a qualitatively new step to modernize the mechanisms for attraction of investment," said Khachatryan.
The minister said the Fund will accompany the implementation of all projects, worth $10 million and more and also present its own projects that can be interesting to different investors and investment funds.
He also said that a month is given for the formation of the executive body of the Fund, its registration and adoption of regulations. Khachatryan said that all projects that had previously received support from the Business-Armenia Foundation, will be placed under the SME Development Assistance Center. -0-
"This is a qualitatively new step to modernize the mechanisms for attraction of investment," said Khachatryan.
The minister said the Fund will accompany the implementation of all projects, worth $10 million and more and also present its own projects that can be interesting to different investors and investment funds.
He also said that a month is given for the formation of the executive body of the Fund, its registration and adoption of regulations. Khachatryan said that all projects that had previously received support from the Business-Armenia Foundation, will be placed under the SME Development Assistance Center. -0-
