Spanish businessmen to make investments in Jermuk

Spanish investors are interested in development programs of the town of Jermuk. The investment phase of Jermuk development will start soon, Mekhak Apresyan, Head of the Department of Tourism and Territorial Economic Development of the Ministry of Economy, told Aysor. The Tiger Dev Swiss company of Switzerland has already completed the project of engineering solutions, including 3D picture and three-dimensional model. The chief plan of Jermuk will also undergo changes in accordance with the project. On October 15, Swiss company’s work was presented to the Armenian President and businessmen.

According to M. Apresyan, a managing organization will be established in the near future to control implementation of the program.

“Our aim is to make Jermuk a tourism center for all seasons of the year. When working out the strategy of town development with the support of USAID's Competitive Armenian Private Sector Program (CAPS) we took into account Jermuk potential, climate conditions,” M. Apresyan said.

“We seek to make Jermuk an alternative tourism center to well-known international winter and health tourism centers. We want to raise the number of tourists to 100,000 and to provide USD 100m annual income which will create over 4000 jobs,” official said.

The program of Jermuk development is set to be implemented by 2020.