TUMANYAN'S REPORT ON INVESTMENTS (PART I)
Support A1+!Armenian legislation is extremely attractive to offshore investors including also foreigners of Armenian descent, Artashes Tumanyan, the head of presidential staff said Tuesday in his report. He spoke on two large-scale investment programs – “Hayastan” and “Lincy” foundations.
Speaking on “Hayastan” pan-Armenian foundation, Tumanyan found it difficult to say whether the foundation accomplished or not. He made passing reference to the time when first Armenian president Levon Ter-Petrossyan was in office mentioning only “Winter 94” program implemented by “Hayastan”.
Half of the means given by the foundation, which amounted to 80 million USD, is allocated for Nagorno-Karabakh needs. 14 to 15 million of another half given to Armenia is intended for building of schools, hospitals, education and culture centres water pipes and roads.
