$ 100 million to be invested in repatriation project Build Armenia

ArmInfo.  Swiss businessman of  Armenian origin, co-founder of the Swiss watch brand Franc Muller and  chairman of the board of Armswissbank CJSC Vardan Sirmakes initiated  a new project in Armenia - the Build Armenia Foundation, which was  joined by more than a dozen Armenian Diaspora businessmen.

According  to preliminary estimates, about $ 100 million will be invested in the  project at the initial stage, the businessman said in an interview  with the First National Channel (1tv.am).

"I believe that the new energy that is reigning in Armenia today and  the improvement of the legislative field will contribute to the  investment inflow to the country, which will serve as the basis for  large-scale repatriation of Armenians from around the world," he  said. V.Shirmakes stressed that the returned compatriots will provide  the place of residence, help with employment and in the near future  will help in solving various problems. As explained by the  businessman, for the returnees zones will be created in which they  will be able to use health, educational and craft centers, in  particular, in leather production, jewelry, etc. "A production chain  will be created," stressed Sirmakes.

According to him, the activities of the Foundation will develop in  accordance with European standards.  "We will be open and  transparent, so that everyone could follow our work and our target  costs," the businessman said.

According to V. Sirmakes, more Diaspora representatives will join the  Fund, in particular, from Russia due to close ties with Armenia. "I  am confident that if we move in the right direction, we will be able  to raise Armenia's rating at the international level and ensure a  large-scale flow of compatriots returning to their homeland, who will  be able to achieve new successes in the new Armenia," he concluded.