Thursday, July 22 2021 11:01

ArmInfo.Acting Prime Minister of Armenia Nikol Pashinyan chaired a consultative meeting to discuss issues related to the implementation of a number of investment  programs attended by the Ministry of Economy and the Investment  Support Center (ISC).

Heads of government departments, as well as  representatives of the companies implementing the programs were in  attendance.  As the press service of the Acting Prime Minister of  Armenia reports, in his opening remarks, Nikol Pashinyan stated, in  part: "We have come together to discuss the bottlenecks we may face  in implementing investment programs. In fact, today's meeting brings  together the investors and the representatives of the organizations  concerned to see whether they can tackle the problems. We need to  understand the root causes behind the problems that have aroused  specific concerns in the business community."

Nikol Pashinyan noted that the purpose of the discussion is to hear  the problems that hinder the implementation of programs and find  appropriate solutions. The first investment program, which was  presented, referred to the construction of a new multifunctional  complex at the beginning of Azatutyun Avenue in Yerevan. With an  estimated cost of USD 10 million, the project is supposed to create  some 220 new jobs. In the meantime, there is a water canal of  historical and cultural significance running across the construction  area.

Yerevan Mayor Hayk Marutyan, Acting Minister of Education, Science,  Culture and Sports Vahram Dumanyan, Deputy Minister Ara Khzmalyan,  Director of the Institute of Archeology and Ethnography of the  Republic of Armenia Pavel Avetisyan came up with clarifications about  the project.  After taking note of their comments, Nikol Pashinyan  gave those responsible 10-days to present to the investor the  necessary guidelines and standards, as well as to amend the relevant  government decision. "The businessman should get the answer to what  we need to preserve and how," the Acting Premier said.  The next  investment program referred to the construction of a tourism-cultural  complex in the Lusarat community of Ararat Marz. Estimated at USD 14  million, the project will help create 50 permanent and 500 temporary  jobs. The investor advised that they were going to build a winery and  a recreation center on the site. The problem with the project is that  the complex is planned to be implemented in the area of historical  Artashat.

Director of the NAS RA Institute of Archeology and Ethnography Pavel  Avetisyan said it is necessary to see whether there are archeological  assets in the mentioned area. According to Mr. Avetisyan, the  archeological surveys may take at least two months to complete.  Acting Prime Minister Nikol Pashinyan considered it inadmissible to  implement the project on the site of the Old Artashat, which may  contain archeological assets.  Nikol Pashinyan suggested starting  excavation work as shortly as possible. In case there are important  archeological materials unearthed in the area, the regional  administration will have to offer another site in the same community  for implementing the program. The investor agreed to the proposal and  expressed readiness to work closely with the archeological group.

The next investment program referred to the modernization of the  Children's Railway Park in Yerevan. The project is estimated at USD  160 million. It implies rebuilding the park in accordance with  international standards. The project has been discussed at the  Yerevan Town Hall, and the latter came up with strong objections to  its original version.

After taking note of the opinions voiced by the investor and the  Mayor of Yerevan, the Acting Prime Minister suggested improving the  project and developing a mutually acceptable version. Nikol Pashinyan  stressed that the park should continue to be a highlight through  improved infrastructure and a better environmental situation.

The Old Khndzoresk investment project was presented next, which  envisages an investment of USD 32 million and over 400 new jobs. The  project seeks to rehabilitate and preserve the historical and  cultural assets of Old Khndzoresk and Old Goris. The developer noted  that the project is being hindered due to illegal facilities  available on the plots.

The representatives of specialized agencies came up with explanations  on this issue. The Acting Prime Minister considered unacceptable  preventing the implementation of an investment program due to illegal  buildings. He stressed that the government will adopt an appropriate  decision.  The meeting next referred to the following projects -  establishment of a ski resort on Mount Aragats, construction of an  international standards-compliant hotel complex in Kapan, development  of tourist facilities near the Devil's Bridge, construction of a  multifunctional Czech complex - Grand Bohemia - in Yerevan, as well  as investment projects in the fields of industry and energy.  Innovative solutions to the problems raised were discussed during the  meeting.  The Acting Premier gave specific instructions to those in  charge, emphasizing that the issue of improving Armenia's investment  framework, stimulating and attracting investments is a priority for  the government, and continued work has to be done with all investors.