An electronic platform designed for companies wishing to invest in Armenia was launched on Feb. 17, 2017. (Photo: investmentprojects.am)

YEREVAN (Arka)—The Armenian Ministry of Economic Development and Investment launched on Friday investmentprojects.am, an electronic platform designed for companies wishing to invest in Armenia. The project is a joint effort of the Ministry and the Development Foundation of Armenia.

According to a press statement by the Ministry, the platform is a new tool that will present Armenia’s potential to potential investors, and Armenian companies to present their projects.

“This is a very flexible tool for contacts with foreign investors, because today we have to communicate with them only through diplomatic missions, while the website will enable establishment of direct contacts,” said Aram Vardanyan, a ministry official heading the initiative.

Aram Vardanyan, a ministry official heading the initiative, presenting investmentprojects.am on Feb. 17, 2017 (Photo: Ministry of Economic Development and Investments of Armenia)

He said 160 investment projects have been submitted to the government were digitized, and “the most realistic and interesting of them have been selected to be placed on the website,” adding that interested investors can find the list of investment projects on the website, with its expected costs and a brief description of the project.

People can submit their investment projects by filling out the application form on the website and sending it to the Ministry of Economy.

The electronic platform is available now only in English, however, the work is underway to have it in other languages as well.

The number of projects on the website will be regularly updated, according to the Ministry.