22 февраля 2010

The head of the investment fund of Nagorno-Karabakh Karenisyan called on regional

and international representatives to act on attracting Investments for Nagorno-Karabakh

The President of Nagorno-Karabakh republic Baco Saakyan and Murad Muradyan visited the city of Shushi and got acquainted with the investment potential of the city.

At the beginning of March in Nagorno-Karabakh the Head of board of directors of the famous in Russia and Armenia "BAMO" group Murad Muradyan and Chairman of "VALEX"
Group Valery Mejhlumyan paid a visit

With out any doubt, the determining factor in the development of Nagorno-Karabakh is a challenge for Armenian businessmen and Diaspora. I`m sure that many will show willingness to come to this country, I`m also convinced that many will make private investments for it`s development The head of BAMO group marked.

According to Mr. Muradyan, The first restoration work will take place in Shushi, BAMO group will begin to restore a former palace complex, located next to Shushi county administration BAMO group will take on the restoration process of this site, the surrounding territory and square. The head of the board of directors said.

Meanwhile the Chairman of "VALEX" group Valery Mejhlumyan marked, that the goal behind the visit of both Chairmen to Nagorno-Karabakh is to discuss further mutual cooperation. This is after all an introductory visit The Chairman says.
However, our mutual interests with BAMO are growing. Whether we will work in building and construction or in the mountain mining industry, our mutual cooperation will be better understood later.

Earlier "Kavkazky uzel" reported that the international financial crisis has hit the biggest factory in Nagorno-Karabakh, the Drumbunskomu copper processing plant belonging to "Bays Metals" company". According to the General Director Arthur Mkertyoumiyana, prices have dropped 2 times the original cost and this effects us definitely.

Being a subsidiary of "VALEX" group the Drumbunskomu copper processing plant "Bays Metals" plays a huge role in the economy of Nagorno-Karabakh.

Reminding also that in June 2009 the capital of Nagorno-Karabakh Stepanakerte opened an economic forum " Bridge Artsakh" that was organized by the union of Industrialists and Armenian businessmen and the international center for international integration" Master"

The forum was held with the main Government and business motto from dialogue to cooperation. The organizers state that the main goal of the forum was to attract interest to the economy of Nagorno-Karabakh privately, investing, and strengthening government connections and business in general.



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