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PM receives American-Armenian businessman and philanthropist James Tufenkian


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Prime Minister Nikol Pashinyan today received American-Armenian businessman, philanthropist and well-known designer James Tufenkian.

The Prime Minister welcomed James Tufenkian’s activities in Armenia and Artsakh, noting that the Tufenkian Foundation-supported projects are of great importance both for Armenia and Artsakh.

Nikol Pashinyan advised that as part of the proposed economic revolution, the Government is implementing reforms to improve the business climate, promote entrepreneurship, simplify the legislative framework, etc in a bid to foster business activity and investment. The Premier stressed his government’s focus on the promotion of different initiatives, considering that problems can only be solved through employment.

James Tufenkian noted that the Diaspora is closely following the changes underway in Armenia with enthusiasm and pride. There is a great desire and interest among the Diaspora-based Armenians to visit their Homeland, get a first-hand view of the ongoing processes, contribute to development programs and support the reforms.

He said that he can use his long experience to raise awareness of those positive changes taking place in our country - introduction of new business culture, improvement of regulations for doing business, etc. Noting that the reforms are of great importance in terms of attracting new investments, James Tufenkian said the government’s innovations can foster and catalyze business activity.

Coming to the programs implemented by Tufenkian Foundation, Nikol Pashinyan and James Tufenkian touched upon the hotel complex construction project in Areni community of Vayots Dzor Marz of Armenia. Nikol Pashinyan hailed the project, noting that it will trigger a tide of business activity not only in Areni, but also in the neighboring communities, improve the business environment in the region, promote both inbound and outbound tourism and lead to infrastructure improvements.

The Tufenkian Hotel will be the largest in Armenia and is scheduled for completion in two years. Mr. Tufenkian assured of his readiness to continue implementing development programs in Armenia and Artsakh and support the government in implementing the proposed reforms. In this context, the interlocutors exchanged views on the prospects of new programs.

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Businessman James Tufenkian invests in Armenia and Artsakh through Tufenkian Foundation. The Foundation’s programs are aimed at overcoming poverty, creating education opportunities, protecting the environment, promoting social justice and human rights in Armenia. The Foundation has implemented and is going to implement large-scale infrastructural and development projects in Artsakh.

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