On 14 July, chaired by Prime Minister Nikol Pashinyan, the government hosted a consultation to discuss the activities and programs of Armenia State Interest Fund CJSC (ASIF). Addressing the meeting, Prime Minister Pashinyan said, “Today we will discuss issues related to Armenia State Interest Fund’s operations and the main directions of its activities. I wish to remind you that this talk started last year and the Fund’s establishment was prompted by the need to improve the investment climate in Armenia or, more precisely, serve the potential investors.”
ASIF Executive Director David Papazyan and Deputy Director Sergey Grigoryan reported back progress in the development of the Fund’s vision and the formulation of investment plans. Possibilities for implementing investment projects in healthcare, industry, agriculture, information technology, infrastructure, energy and a range of other sectors were explored during the meeting. Issues related to the goals, functions and directions of the fund’s activities were discussed at the consultation. In particular, the meeting discussed the model of asset management, cooperation between the Fund and government agencies, the principles of government-investors cooperation, investment plans and other issues.
Prime Minister Pashinyan first of all highlighted the need for doing coordinated work with a view to clarifying functions and rule out duplications. Summing up the discussion, the Head of Government said that ASIF should be vested with the following four functions: public assets management, ready-made investment package development, work with investors on the basis of individual packages (search / submit / present), as well as the function of a concierge / consultant for such investors as may have a business idea and the necessary amount of money.