Armenian-Russian investment fund to be established

1495-620x300

Based on the agreements reached on 3 March between Minister of Economic Development and Investments of the Republic of Armenia Suren Karayan and Minister of Industry and Trade of the Russian Federation Denis Manturov, on 15 March, the Russian Direct Investment Fund and the “SME Investments” Universal Credit Organization CJSC of Armenia signed an agreement on establishing an Armenian-Russian investment fund. The parties intend to develop programs for attracting investments in order to promote the deepening of trade and economic and investment cooperation between the two countries and the integration of Armenia in the Eurasian Economic Territory. The relevant agreement was signed within the scope of the visit of President of the Republic of Armenia Serzh Sargsyan to the Russian Federation.

Executive Director of the Russian Direct Investment Fund Kiril Dmitrev stated the following: “We are pleased to welcome our first international co-investment partner from the CIS countries. Armenia is Russia’s key partner in trade and economy, including within the Eurasian Economic Union. The to-be-established fund will promote future development of the economies of our countries through the implementation of various projects in sectors such as agriculture, industrial production, as well as transport and logistics infrastructures.”

“It is a pleasure to collaborate with the Russian Direct Investment Fund, the international experience of which in investment partnership is very important from the perspective of increase in the level of effectiveness of joint Armenian-Russian programs in the sphere of investment partnership. We are certain that our joint investments will promote further integration of the economies of Russia and Armenia, the growth of the trade turnover and the strengthening of the friendly relations between the two countries,” Executive Director of “SME Investments” Universal Credit Organization CJSC Arthur Badalyan stated.