NORTH AVENUE OF YEREVAN OPENED
armradio.am
16.11.2007 16:09
The North Avenue of Yerevan was opened today in presence of RA
President Robert Kocharyan, Mayor of Yerevan Yervand Zakharyan,
representatives of legislative and executive bodies and the City Hall
staff, residents of the capital city.
Mayor of Yerevan Yervand Zakharyan said that the construction of
the North Avenue provided the opportunity to bring the center of
the capital city to a civilized shape. "The construction of the
North Avenue is a result of a time, when we managed to establish
an atmosphere of business, guaranteed and effective investments
and economic growth. The unprecedented increase of the volume of
construction works in the capital, which reaches 40-45% annually,
is one of the real reflections of stable economic development in our
country," said the Mayor of Yerevan.
Congratulating everyone on the wonderful occasion, RA President Robert
Kocharyan noted that first seeing the model of the North Avenue
he immediately decided that it had to be constructed in a possibly
short period of time. "But even then I could not imagine what kind
of influence this avenue would have on the economic development of
Armenia, the development of the construction sphere. The process
showed that the construction has become the main driving force for
Armenia’s economic development. More than 20% of our GDP comes from
the field of construction. This means that tens of thousand of people
have found work in this sphere, thousands of families are earning
many to improve the quality of their life," the President said.
According to President Kocharyan, this program helped develop the
mortgage market. "We adopted a rather serious legislative package
to encourage this process. Today we are actively working with the
German KfW Bank in this direction. The volume of construction pushed
the mortgage market forward, and we shall continue moving in this
direction. The loans must be given for a longer period of time, up to
20 years of maturity, the interest rate should decrease, and the state
will have certain participation here," the President said. According
to Mr. Kocharyan, if the trend of the recent years continues, in 2-3
years reasonable maturity and interest rates will be set.