ArmInfo.By the end of 2018, the ''Business Armenia'' Foundation will be able to achieve the investment targeted indicator. The Fund's Executive Director Armen Avak Avakyan said this at a press conference timed to the first meeting of the Board of Trustees of ''Business Armenia'' on October 19.
As Avakian noted, according to the results of 2018, the Fund was going to attract investments in the Armenian economy at the level of $ 46 million. Today, about $ 17 million have already been invested, another $ 28 million is expected. ''In total, we managed to attract $ 45 million. That is, we are closer to the targeted indicator. I believe that if we are more aggressive in our work, we will get higher rates'', he said. ''In particular, investment interest is growing mainly from the Diaspora'', he noted. The priority areas in the framework of investment activities for the Fund are IT, tourism and agriculture, investor's interest also covers energy and pharmaceuticals.
Speaking about export activities, the Executive Director of the Fund reported that according to the results of the third quarter, through participation in various international exhibitions, export agreements were signed for 5.9 billion drams, while according to the data of 2017, this figure was 5.7 billion drams. "It turns out that we have already exceeded last year's figures. We expect to end the year securing contracts for 7 billion drams'', Avakyan said. ''Returning to the holding of the meeting of the Fund's Board of Trustees'', Avakyan noted that decisions were taken regarding the structure of the fund. In particular, the participants unanimously spoke in favor of reducing the number of personnel, thanks to which 108 million drams will be additionally allocated to the budget. ''We will work in smaller numbers. But this does not affect our performance, on the contrary, we intend to strengthen them and increase'', - he stressed. To note the Development Fund of Armenia (DFA) was established in 2015.
By the decision of the Board of Trustees in 2018, the Development Fund of Armenia was renamed Business Armenia Fund. The organization's activities are aimed at attracting foreign investment, at the same time promoting exports, improving the business environment, implementing regional development projects and developing the tourism sector. The Business Armenia Foundation implements projects that provide for cooperation between government bodies and entrepreneurs.