Development Foundation of Armenia and Investors Club of Armenia (ICA) have signed a Memorandum of Understanding on cooperation. This cooperation is aimed at developing tourism, energy, their infrastructures, services and other priority areas set by the Armenian government.

The memorandum was signed between DFA CEO Armen Avak Avakian and Paruyr Amirjanyan, the CEO of Fora Capital that manages the Investors Club.
 
According to DFA, by this memorandum the two organizations expressed their willingness to strengthen business ties, attract trusty investors with joint efforts and create an investment format, which will promote the economic growth of Armenia.

“The purpose of the document is to combine networks of two structures, include a broader range of investors, and implement more projects. We will work especially closely within the frames of major investment projects,” Armen Avak Avakian noted.

“In terms of areas targeted by the investment policy, the goals of the club and DFA coincide, so the memorandum will allow increasing the effectiveness of the two institutions,” Paruyr Amirjanyan remarked.