The Board of Trustees of the Development Foundation of Armenia, led by Prime Minister Karen Karapetyan, has summed up and chose best 3 projects of the “Rinnovate” competition announced for tourism development.

The foundation informed that the first prize, the equivalent of USD 15 000 has been awarded to the group of “The Eco-Houses in Armenia” project, which aims to develop a touristic path from Khustup to Sanahin and Haghpat monasteries, linking Armenia’s historic and scenic sites.

The second prize, the equivalent of the USD 10 000 has been awarded to “SevAp Resort”, which authored the concept of hotel construction and exploitation at 7 km distance from Shorzha village.

The third prize, the equivalent of the USD 5000 has been awarded to “Yerevan Lake Smart Park”, which aims to create a wide choice of entertainment for tourists and locals.

The Development Foundation of Armenia also informed that prior to the awards ceremony, the jury consisting of the representatives of international and state institutions selected the best five projects, first considering 60 ideas from Armenia and the Diaspora in the first stage and later discussing the 20 best business projects in the following stages.

“Regardless of the results of the last round, after the end of the competition, the DFA will help all five teams reaching the 3rd round to develop and pack their projects as well as find investors to realize them,” noted DFA CEO Armen Avak Avakian.