Large Investments and 3000 Job Opportunities to Arise in Kotayk: R. Petrosyan

Notable activity has been recorded in the diamond processing industry in Kotayk Province of Armenia. Kotayk Governor Romanos Petrosyan stated in an interview with Armenpress that there is currently a company in Abovyan that employs 80-100 workers in the diamond processing sector.

In the near future, the number of companies operating in this field is expected to increase.

“There are entrepreneurs who, due to the post-revolutionary political situation, are determined to attract large investments by working in Abovyan. Concrete steps are already being taken in this direction. Recently, large-scale construction works have begun in Abovyan on the site of the former ‘Sirus’ factory. The diamond processing workshops will be equipped there. It is expected that companies operating in Hong Kong and Dubai will open offices in Abovyan and start production. In other words, the production output of these companies will happen in Armenia. According to the business plan, it is planned to create 3000 job opportunities in the coming years,” said Romanos Petrosyan.

He also informed that the companies plan to implement a training program so that qualified specialists are available by the time construction is completed. The governor noted that he has already met with entrepreneurs and expressed his support.

He added that there are currently 7-8 medium-sized diamond processing companies operating in the province, and their products are exported to Russian and European markets.

The next direction the province is developing is tourism. In this context, there are currently two major hotel complex construction programs underway.

Additionally, work is being done to develop eco-tourism infrastructure in high mountainous areas with the aim of attracting investments. “A vivid example of this is the winter tourism development projects in the Lernanist community. Along with infrastructure development, serious informational work was conducted, after which tourist activity was noticeable. I would like to mention the eco-village project in Sevaberd, which is also in progress. The project budget package is being finalized,” the governor stated.

Romanos Petrosyan noted that intensive gardening and technological agriculture are essential directions for the province. According to him, there is also progress in this area. The province currently has about 90 hectares of greenhouse farming, with another 17 hectares being established in four communities.

Plans are also in place in the renewable energy sector. There is a memorandum signed with an Italian-Spanish joint venture for the construction of wind farms in the province. Additionally, solar power stations will be built in several communities.