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 | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |