The Government of the Republic of Armenia

Prime Minister Karen Karapetyan held a regular consultation on the development of Vanadzor town, attended by town and Marz leadership. The meeting discussed opportunities and prospects for establishing a fund similar to Kumayr Renaissance non-public contractual specialized investment fund, which was set up with a view to rehabilitating the historical center in Gyumri.

The Premier instructed the working group to submit a relevant proposal in the near future. Karen Karapetyan suggested appointing a responsible person within the Development Fund of Armenia who should coordinate work on Vanadzor development concept and Master Plan, landscaping, infrastructure improvement and branding, about a dozen projects of interest to potential investors.