Russian-Armenian venture fund is being established to attract new projects to Armenia

Yerevan /Mediamax/. To attract new technologic projects to the territory of Armenia, a Russian-Armenian venture fund is being established.

Mediamax reports that the President of “Cirtronics” Company Sergey Aslanyan said this in an interview to “Vedomosti” newspaper. The company manages Yerevan “Mars” plant and three scientific-research institutions.

With the help of the friendly Armenian government, we rescheduled the debts of the enterprise on taxes, took the production process to operating recoupment. We appointed new directors, who are to form a technologic center on the basis of scientific-research institutions and a modern production platform on the basis of the plant.

Together with the Armenian government, a Russian-Armenia venture fund is being established in order to attract new technologic projects to the territory of Armenia. We are interested in successful work of the given fund, since the selected projects will be realized at the production platforms, which are under our management. We have already looked through 150 innovative projects, and the work continues”, Sergey Aslanyan stated.

 “Citronics” President noted that in Armenia “there is qualified labor force, a strong scientific-technical basis back from the times of the Soviet Union; there is quite good groundwork and technologies”.

“Probably, they are not the most advanced ones, but this is an issue of forming the soil from which the shoots should appear. We very well understand that we should do such groundwork for the future, since “Citronics” is a high-tech company, which moves forward at the expense of new technologies”, Sergey Aslanyan stated.