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 | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |