Tatev Revival Project catches interest of foreign investors

October 16, 2010 - 15:43 AMT

PanARMENIAN.Net - Tatev Revival Project, with its development perspectives, has already caught the interest of foreign investors, according to the Executive Director of the National Competitiveness Foundation of Armenia (NCFA).

“NCFA will set strict demands to the investors, limiting the number of constructions nearby the monastic complex,” Bekor Papazyan said in his opening remarks.

The Tatev Revival Project was launched in Tatev, Syunik province of Armenia, marked by the official inauguration of the world's longest reversible passenger aerial tramway on October 16, 2010.

The Executive Director of NCFA characterized the event as the first step in implementation of a major project, capable of promoting tourist inflow.

The $50 million Tatev Revival Project aims to combine the monastic and touristic significance of the complex, in order to develop the region into an attractive destination nestled in a prospering local community.