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EREVAN. – Three of Armenia’s economic development agencies will merge; the respective decision was made at Thursday’s Cabinet meeting.

Accordingly, the Industrial Development Foundation and the National Competitiveness Foundation of Armenia (NCFA) will combine within the Armenia Development Fund, whereas the Armenian Development Agency state-owned company will dissolve.

The resultant restructuring is planned to be implemented in a foreseeable future.

In addition, NCFA CEO Arman Khachaturyan will be appointed Acting Executive Director of the Armenia Development Fund.

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