Government Signs 180 Million Dram Contract with 'Sharm Holding' for 'EXPO-2020 DUBAI' Exhibition

The Ministry of Economy signed a contract on August 13 with 'Sharm Holding' LLC, which has undertaken to provide organizational services for the Dubai EXPO 2020 exhibition.

Legal information indicates that the contract's value amounts to 180,073,272 drams (including taxes). The procurement was made from a single source, meaning no competition was announced for the organization of the exhibition.

According to the technical specifications of the contract, 'Sharm Holding' is to provide the following services from August to December 25:

1. Construction phase of the pavilion – 1,500,000 drams.
2. Costs for content development – 9,317,800 drams. This includes showcasing museum samples at the expo, website maintenance, and videos for the pavilion.
3. Support staff – 7,145,900 drams for personnel, materials, and other services, including travel expenses.
4. National Day events – 111,063,700 drams, covering technical design of the multimedia centralized system for the pavilion, technical support for the concert program, adaptation of the full-length animated film in English, creation of video content for the large LED screen for the concert stage, administrative team, creative group, music composition, casting group, costume design, makeup artists, production designers, fees for invited actors, dance groups, special effects, conducting rehearsals three times, filming the National Day event, transport costs, and travel for 40 concert participants for 3 days, including transportation for 8 support staff for 5 days, Covid testing, tourist tax in Dubai, and transportation.

The total for the listed items amounts to 129,027,400 drams. In addition, the following are also noted:

1. Unforeseen expenses – 7,600,000 drams.
2. Organizer's profit – 13,433,660 drams.
3. VAT 20% – 30,012,212 drams.

It is noteworthy that regarding this exhibition, Armenian Minister of Economy Vahan Kerobyan stated on his Facebook page on July 24:

"The 'EXPO-2020 DUBAI' global exhibition is one of the unique platforms that can open new doors to international markets for our Armenian companies, which have been previously inaccessible. With the financial support of the government, we will present our country, culture, and investment potential at the exhibition platform for six months, while Armenian companies will benefit from broad opportunities to showcase Armenia to the world and forge international partnerships. This initiative will certainly enhance the country's economic activity and attract foreign investments. During the exhibition, we will have a four-day 'Made in Armenia' showcase, which we will present under the 'ethnotech' concept—an intriguing blend of old and new interests showcased to the world."