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YEREVAN. – One of the biggest problems of Armenia is that venture capital is not represented in the country, Armenian Acting Prime Minister Nikol Pashinyan told reporters on Wednesday in Dilijan.

According to him, the creation of venture capital institutions is one of the main priorities. 

Pashinyan highlighted the importance of programs that may interest potential investors.

“The startup institute and venture capital are Siamese twins, one cannot exist without the other,” the acting PM said. Pashinyan expressed hope to develop such programs that would become attractive for venture capital.

“Unfortunately, there were such projects in Armenia, but funding was from abroad,” he said adding that these companies are not Armenian enterprises, which is not very good for the image of Armenia as it is not bringing new ideas and capital.

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