Karen Karapetyan: The investments promised by the government for 2017 in the amount of $ 830-840 million, are feasible

ArmInfo. The investments promised by the government for 2017 at a rate of 830-840 million dollars, are feasible. This was stated by the head of the Armenian Cabinet in Tsakhkadzor at the opening of the 15th annual youth gathering "Baze".

As reported by the press service of the government of the republic, Karen Karapetyan noted that over 8,500 young people from Armenia, Artsakh and Diaspora took part in the "Baze" meetings during these years.  According to him, this movement is a good platform, where youth are united.

The Armenian Prime Minister called on the youth to be independent, free, active. "Periodically work on yourself to be more competitive, relevant, modern, look at tomorrow more confidently and more boldly and, most importantly, love our country," said the head of the

Armenian government. For effective participation in the implementation of the organized work and state policy in the field of youth, as well as on the occasion of the 15th anniversary of the foundation of the all-Armenian youth gathering "Baze" Karen Karapetyan encouraged a number of people to thank RA Prime Minister.

Then the participants of the meeting presented to the head of the government their vision of the development of Armenia and addressed Karen Karapetyan a number of issues related to the economic development of our country, tax, customs, healthcare, education, sports, etc.  Touching upon the economic development, Karen Karapetyan noted that for the 7 months of this year, Armenia recorded a 6.2 percent growth in economic activity, 12.7 percent growth in industry, a 21.6 percent growth in exports, a 28.5 percent increase in imports , During this period a number of programs were launched. "There are numerous investments, including in the fields of textiles, agriculture, information technologies, energy, tourism, etc. We announced that we have investment programs worth $ 3.2 billion, of which $ 830 million-$ 840 million, in our Representation, should be this year. We will present the report and the pace of these investments show that they are feasible, "Karen Karapetyan stressed. Touching upon the implementation of the programs by the Investors' Club of Armenia, the head of the Government noted that this club participates in the program of construction of the Shnokh hydroelectric power station. Karen Karapetyan also noted that painstaking work is needed to implement investment programs.

The framework agreement between the Government of Armenia, Debed-Hydro LLC and the non-public contractual investment fund "Investors Club of Armenia" on the program of construction of Shnokh HPP was approved at a meeting of the Armenian Government on August 10. Shnokh HPP will provide 5 percent or more of the domestic needs of the country and will strengthen Armenia's energy security, Minister of Energy Infrastructure and Natural Resources of Armenia Ashot Manukyan stated.

On January 25, 2017 Armenian businessmen living in Russia adopted a declaration on participation in business programs of the Armenian government. "Armenian Investors Club" is the first non-public contractual investment fund in Armenia registered by the Central Bank. The goal is to promote the development of such important economic spheres as energy, including the production of alternative energy, energy and tourism infrastructures, mining industry, food and light industry with the involvement of internal and external private financial means. The fund, managed by Fora Capital LLC, will operate with the participation of the capital of new and existing companies, investing in securities, real estate, providing financing. In 2017 investments of the Fund "Armenian Investors Club" will amount to $ 300 million, from the investments promised by the government in the amount of $ 850 million.