On February 1, Syunik region of Armenia, represented by Governor Robert Ghukasyan, and the Zangezur Copper-Molybdenum Plant CJSC (ZCMC), represented by General Director Roman Khudoli, signed a Memorandum of cooperation in economic, social and environmental spheres.

ZCMC press service reports that the Memorandum provides for cooperation in the following areas:

- In the social sphere, in particular in the field of healthcare, in improving the social situation of low-income families; in the field of education, in particular in providing the Syunik region with qualified specialists, and in other areas.

- In the economic sphere, in particular, in diversifying the economy of the region, in priority areas, such as light and agricultural industries.

- In the field of environmental protection, in particular, in solving the environmental issues of the region, and developing alternative energy projects.

The parties also pledged to cooperate in the areas, such as joint monitoring, exchange of experience, publication of relevant materials and information in areas of bilateral interest.

At the signing of the Memorandum, the Governor of Syunik region Robert Ghukasyan stated։

“Zangezur Copper-Molybdenum Combine has always been actively involved in the implementation of social programs in the above-mentioned areas. This Memorandum is designed to make the participation of Syunik’'s largest enterprise more targeted, systematic and effective for the development of the region. It is especially important for me that the Memorandum outlines specific tasks and formulates clear ways to solve problems in all areas. It is important that local authorities and private companies have a document emphasizing boundaries of responsibilities, functions and cooperation. Social responsibility programs should not substitute the functions of the state, as it often was, but should complement each other in matters of regional development.”

General Director of ZCMC Roman Khudoli emphasized the importance of joint effort with the Governor’s office։

“It is very important that social assistance be targeted and aimed at sustainable development, and for this it is necessary to agree on directions and goals. Uncoordinated social programs have a short-term effect, and significant amounts spent over the years do not always yield tangible results. This Memorandum provides an opportunity to outline strategic directions and coordinate efforts to implement targeted programs. For me, the emphasis on joint work towards sustainable social and environmental development is especially important. There are complex challenges ahead, and our decisions should be focused not on quick, but on sustainable, long-term and strategic results.”