Memorandum of Understanding of Investment has been signed between Business Armenia and American-Armenian businessman, philanthropist and Honorary Representative of Business Armenia in U.S. Alec Baghdasaryan.

According to Business Armenia, the memorandum was signed within the frames of the official visit of Armenian Business Delegation to U.S. on June 30.

The Investment Project envisages the construction of resort and business center near Lake Sevan that includes a hotel, vacation homes, water activities, restaurant complex, retail center as well as a center for business conferences.

The total amount of investment is almost USD 10m.