Franck Muller CEO to invest $10mln in business projects in GyumriAugust 4, 2015 - 16:56 AMT PanARMENIAN.Net - Swiss-Armenian businessman, Franck Muller CEO Vartan Sirmakes offered to invest $10 million in Gyumri, Armenia, to create an organization financing all the small and medium businesses that entrepreneurs of Shirak province will introduce, Armenian Prime Minister Hovik Abrahamyan said. “I am confident that this move will foster economic activity and job creation in the province of Shirak. I have also suggested that the government provided $2 million more, making the sum $12 million. And most importantly, the project will run with a 5% annual interest rate for a 7-year term,” the PM told reporters. According to the government's 2013 program, Support for Small and Medium Enterprises, SME development is meant to ensure the sustainability of economic growth in Armenia, making the economy innovation-oriented and flexible. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |