Four Memorandums of Understanding were signed within the framework of the Armenia-UAE Investment Forum held in Abu Dhabi last week, the Development Foundation of Armenia reports.

The “Hydro Corporation” Group of Companies and Estekshaf Investment Company signed a MoU on investments in the field of renewable energy, which envisages implementation of large-scale and long-term programs. The programs aim to upgrade the small HPPs.

“Tamara Fruit” CJSC and Natural Organic Healthy Food Company signed an agreement, under which the Armenian company will supply organic food to luxury hotels in six Arab countries. The first delivery is expected in the first decade of April.

The Armenian-Emirati Business Union and the Natural Organic Healthy Food signed a Memorandum on opening of organic food processing center in Armenia.

Under a MoU signed with the Armenian Ministry of Energy Infrastructures and Natural Resources, the Ocean Holding intends to invest 100 million USD in solar photovoltaic power plants in Armenia and operate them using the best technology available to the sector.