Wednesday, July 13 2022 18:57

ArmInfo. As part of the joint investment project of the Armenian National Interests Fund (ANIF) and Apaga Projects, a new hotel complex has already been commissioned,  construction work of zipline on the territory of the Yell Extreme  Park and the infrastructure of the Apaga Resort hotel complex is  nearing completion. This is stated in the message of ANIF.

The report notes that ANIF's subsidiary, "Entrepreneur + State  Anti-Crisis Investments Fund" CJSC made investments in the authorized  capital of Apaga Projects CJSC in the amount of $1.6 million.  Apaga  Projects CJSC coordinates two programs in the Yenokavan community of  Tavush region: Apaga Resort hotel complex and Yell Extreme Park  amusement park.

The cooperation between ANIF and Apaga Projects was aimed at the  construction of a new 2.5 km long zipline line at the Yell Extreme  Park, a new sports and entertainment ground, as well as the  development of the infrastructure of the Apaga Resort hotel complex  and an increase in the number of hotel rooms. As a result of the  program, Yell Park will be able to triple its capacity and almost  double the number of permanent jobs provided. The total investment in  the project amounted to 798 million drams.

According to Tigran Chibukhchyan, director of Apaga Projects, the  project is an example of effective cooperation between the public and  private sectors, which, along with the vision of business, is of  great social importance. It aims to develop the rural community and  improve public life. "All of our initiatives are bold and innovative.  We will continue in the same spirit>, Chibukhchyan said.

Meanwhile, as Bella Manukyan, director of the "Entrepreneur + State  Anti-Crisis Investments Fund" , noted, one of the most effective ways  to invest public funds is to invest in successful and profitable  business projects. "We are confident that our investments in future  projects will not only contribute to the development of this already  proven brand, will not only open new jobs, but will also play a  significant role in the direction of more global goals, modernization  and development of the tourism sector. The promotion of such programs  is one of the tasks of the Fund>, Manukyan emphasized.

The purpose of the "Entrepreneur + State Anti-Crisis Investments  Fund" is to stimulate the inflow of private capital into the economy  and through it to stimulate the development of local businesses. The  Fund invests in local companies, contributing to the development and  expansion of Armenian enterprises. The Fund finances both new and  existing business programs registered in the Republic of Armenia and  meeting the standards of the Fund. The Fund's participation is 25% -  49%, the amount of participation in one program is 0.5 - 4 million  dollars.