Memorandum of Intent signed between the RA Ministry of Economy and “DAR” regional development and competitiveness foundation

18 June, 2021

On June 17, 2021, a Memorandum of Intent was signed between the RA Ministry of Economy and “DAR” regional development and competitiveness foundation. The Memorandum was signed by the Acting RA Minister of Economy Vahan Kerobyan and the General Director of “DAR” regional development and competitiveness foundation Margarita Gevorgyan.

The purpose of the Memorandum is implementation, based on the state-private partnership, of the model program of sustainable development of the territory comprising of Geghamavan, Ddmashen, Zovaber, Tsaghkunq, Varser communities of RA Gegharkunik Marz and Gagarin settlement of Sevan community.

Within the program framework and by the state-private partnership model, by 2025 it is envisaged to implement investment projects worth about 1.160 billion Armenian drams. The main directions of the program are: competitive educational ecosystem, quality living environment, and sustainable economic development.

The Memorandum’s signing ceremony in the nature’s setting was symbolic. By combining the nature, human resources, capital opportunities, and the willingness to strengthen the country together, it is possible to achieve great results faster. The program implementation will give an opportunity to shape self-sufficient communities with sustainable development and innovative lifestyle, which will contribute to the residents’ well-being and increase their creativity.

The signing of the Memorandum is conditioned by the necessity to introduce a new model of sustainable territorial development based on modern approaches of community development and comfortable living in environmentally clean Armenia and by importance of engaging the state, community, private sector, international community, local population and generally bigger groups of society in sustainable territorial development. Both sides agree that signing and implementation of the Memorandum will contribute to the balanced territorial development of the Republic of Armenia.

As a result, the program is expected to provide quality education, healthy lifestyle, safe living environment, promotion of repatriation by creating in communities an environmentally clean setting with modern and comfortable infrastructure, promotion of sustainable and innovative economic development, and introduction of efficient, accountable, transparent, and inclusive community management system.

According to the Memorandum, the RA Ministry of Economy is obliged to initiate or assist in issues related to construction and/or modernization of the infrastructure necessary for the program implementation and other issues.

With its own resources the Foundation ensures execution of works included in the study phase of the program framework.

A working group will be set up to organize and coordinate the works planned.

On May 5, 2021, the RA Acting Minister of Economy Vahan Kerobyan visited Tsaghkunk community of Gegharkunik Marz to get acquainted with details of “Gagarin project” implemented by “DAR” territorial development and competitiveness foundation.

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