YEREVAN. – Armenian-American businessman James Tufenkian is confident doing business in developing states, including Armenia, is not an easy thing.

Especially for the last 5-6 years, it has been very difficult to find a country where it is easy to establish a business, Tufenkian said during the Friday press conference preceded by the opening of “Tufenkian Historic Yerevan” hotel.

The businessman said a program of hotel construction in Armenia will continue and business will become profitable in the near future. Tufenkian stressed he had come to his historic homeland after Armenia gained independence to help building economy through construction of hotels and promotion of tourist influx.

“For a tourist, it is very important to live in hotels having traditional style and bearing the national colors. For example, a tourist is not interested to see buildings in Yerevan similar to those in Los Angeles. He must feel the Armenian architectural style,” he added.

The businessman did not rule out the rumors saying the Tufenkian hotel chain will expand in the South Caucasus. Tourists often buy the tour which includes both Armenia and Georgia, he noted, adding that construction of Tufenkian hotel in Georgia will promote the development of regional tourism.