ARTOC GROUP INTERESTED IN MAKING INVESTMENTS IN ARMENIA

Noyan Tapan
March 3, 2010

YEREVAN, MARCH 3, NOYAN TAPAN. During the March 3 meeting between
RA National Assembly Speaker Hovik Abrahamian and Chairman of ARTOC
Group for Investment & Development Shafik Gabr, the investment and
infrastructure programs being implemented by this company in Armenia
and the possible directions of further cooperation were discussed.

H. Abrahamian underlined the importance of ARTOC Group’s investment
projects in Armenia, noting that the Armenian parliament passes laws
conducive to economic development and implementation of investment
projects. He considered it essential to put the further cooperation
on a most practical basis and to ensure the continuity of investment
programs.

In the words of S. Gabr, their company is interested in making
investments in Armenia and plans to choose concrete directions of
cooperation after examining the opportunities existing in the country.

He said the company intends to carry out the idea of Smart Village
(a town built in a suburb of Cairo) in Yerevan on a small scale: the
program will involve international organizations willing to cooperate
with Armenia and Egypt. According to S. Gabr, he will again visit
Armenia soon and make some practical offers.

The press service of RA parliament reports that at the guest’s request,
H. Abrahamian spoke about the ratification process of Armenia-Turkey
protocols. He said that these protocols should concern only the
establishment of diplomatic relations between Armenia and Turkey and
the border’s opening. The speaker of National Assembly stated that
the Armenian parliament will ratify the Armenia-Turkey protocols
after their ratification by the parliament of Turkey.