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Russia-based ethnic Armenian entrepreneurs promise to invest $300 million in homeland this year

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YEREVAN, March 16. /ARKA/. Russia-based ethnic Armenian entrepreneurs will present their investment projects designed for Armenia by the end of March, Minister of Economic Development and Investments Suren Karayan told journalists today.

Earlier Russia-based businessmen of Armenian origin expressed readiness to invest in their homeland and thus support Prime Minister Karen Karapetyan’s government. According to media reports, Russian-Armenian businessmen promised to invest a total of $300 million within this year.

It was also announced that Samvel Karapetyan, ranked 394th in the Bloomberg’s list of 500 billionaires with a fortune estimated at $4.36 billion, has pledged to invest $300 million in the construction of Old Erivan, a unique cultural- historical project.

The minister refused to name the names of these businessmen noting only that it is necessary to wait a little.

“I’m not saying that all of them will rush to Armenia and start investing, but most of them will make concrete statements on investments,” Karayan said. –0–

Frank Muller CEO Vartan Sirmakes plans to invest $10 million in Shirak province of Armenia

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swis-armenian“Swiss businessman, philanthropist, CEO of Frank Muller Company Vratan Sirmakes displayed great patriotism and proposed investing $10 million in Gyumri,’ Armenian Prime Minister Hovik Abrahamyan said during a visit to Gyumri.

“A body will be set up to finance all economic programs involving small and medium businessmen in Shirak province . I think it will promote economic activity in Shirak and help create jobs,” the PM said.

The government will co-finance the program by allocating 2 million , in addition to 10 million. The money will be provided to businessmen at a 5% interest rate for seven years.

Source: Panorama.am