Vardan Aramyan:  Karen Karapetyan family investments in the Investment Fund of Gyumri will not lead to conflict of interests

ArmInfo. Karen Karapetyan's family investments in the Investment Fund of Gyumri will not lead to conflict of interests. This was stated to journalists by Vardan Aramyan, the Minister of Finance of Armenia  on February 5 in Tsakhkadzor.

According to Minister's clarifications, in such cases, following the international practice, it is quite different modeling, when assets are being allocated as a charity and when those are being allocated as investments. If the assets will be allocated as charity, the conflict of interests is excluded, and if those are allocated as investments in any company - that is to be done on the basis of trustee agreement," Aramyan clarified. At the same time, the Minister reminded that the key priority in the work of Karapetyan's cabinet is the administration transparency, which in this case rules out any conflict of interests.

Karen Karapetyan, the Prime Minister of the Republic of Armenia, on February 3 within the framework of his working visit to Gyumri, stated that for a special fund will be established in Gyumri aimed at tourism development. Karapetyan stated also, that his family is intended to become one of pioneer investors. "I have no option to do business currently, so I ask my family members to make their deals.  It will be of a great honor for my family to be the first investor in this project," the Prime Minister said. Answering the question of journalists regarding the amount of the input, the Prime Minister stated the figure of USD 500.000.