YEREVAN.- To mark the 20th anniversary of independence, a new project has been initiated, encouraging 3,500 Armenians from the West to move to Armenia.

“Due to the slower pace of life, the rich cultural scene, the much lower cost of living in Armenia, and the relative affluence of many Armenians from the West, most Westerners making the move to today’s Republic of Armenia or the Republic of Nagorno-Karabakh would experience a much better quality of life,” reads the statement issued by the Armenia 3500 Project.

Assuming each Armenian from the West brings an average of US$ 50,000 with them to their homeland to buy homes, invest in businesses and to simply live, the total sum that the 3,500 bring would equal US$ 175 million.  In addition, the knowledge of western practices, organizations, businesses and individuals would allow new opportunities for business and export.