ARMENIA AND RUSSIA SIGN MEMORANDUM ON ESTABLISHMENT OF CORPORATE ADMINISTRATION HIGHER SCHOOL

ARMENPRESS
May 23, 2008

YEREVAN, MAY 23, ARMENPRESS: Today the National Academy of Sciences
of Armenia and the Russian Government Academy of Economy signed in
Yerevan a memorandum on establishment of Corporate Administration
Higher School in Yerevan.

On behalf of Armenia the memorandum was signed by Radik Martirosian,
president of the National Academy of Sciences of Armenia and on behalf
of Russia by Abel Aghanbekian, an academician of the Russian Academy
of Sciences and head of Business Administration Doctor program.

Radik Martirosian emphasized the establishment of the Corporate
Administration Higher School saying that it will promote preparation
of skilled specialists for Armenian economy.

According to Abel Aghanbekian, the new school will recruit the best
Armenian and Russian professors and specialists to teach the students
who may become business doctors after 3 year-long tuition.

The new school will offer courses on marketing, strategic business,
international business, corporate administration as well as foreign
languages.

The new school will start operating from September.

"There is enthusiasm and desire, we have managed to secure funds
as well and therefore the initiative is quite feasible. The biggest
investment is to invest in people," Abel Aghanbekian said.

According to him, Armenian businessmen in Russia donated heavily
to help realize this idea, but the main financing is to come from a
businessman Radik Vanunts, who also signed the memorandum. The school
is supposed to become later into a self-supporting entity.