The works of the joint investment project of the Armenian National Interests Fund (ANIF) and Apaga Projects are near completion, and all the services will soon be available to the public.
Apaga Projects company owns two projects in Yenokavan community of Tavush region: Apaga Resort hotel complex and Yell Park amusement park.
Tigran Chibukhchyan, the Director of Apaga Projects company, presents the completed works, “Now we are expanding with the support of ANIF, we will have twice more workplaces than now. In 2019, we reached 97 000 annual visitors to the community; now the goal is to reach 250 000 visitors.”
The cooperation between ANIF and Apaga Projects was aimed at the construction of a new 2.5 km long zipline at Yell Extreme Park and the introduction of a new sports entertainment platform as well as the infrastructure of the Apaga Resort hotel complex, including the development of a new kitchen and the increase of hotel room number stock.
According to Bella Manukyan, the director of “Entrepreneur + state fund” (Armenian National interests Fund’s (ANIF) subsidiary), the investment made in Apaga Projects was particularly important from the perspective of the community development, “the investment will have a direct impact on the quality of life and economic life of Yenokavan community and neighboring communities.”
The purpose of the activity of the investment fund of ANIF “Entrepreneur + State Investment Manager” company is to stimulate the inflow of private capital into the economy and, through it, to promote the development of local businesses. The fund makes investments in local companies contributing to the development and expansion of Armenian enterprises. Both new and existing business projects registered in the Republic of Armenia that meet the standards of the fund are subject to financing by the fund. The participation of the fund is 25-49%, and the amount of participation in one program is 0.5 – 4 million US Dollars (equivalent to AMD).