Construction of financial center in Dilijan to be completed in 2013

Construction of financial center in Dilijan to be completed in 2013

The construction of a financial center in the Armenian Dilijan will be completed in 2013, Dilijan's mayor, Armen Santrosyan, told reporters on Tuesday. According to the mayor, the municipality has handed to the Central Bank the local library building that will house an electronic library, a training center and the Tumo center for creative technologies, ARKA reports. He said there are other large construction projects underway in the town. One is construction of an international school and the other is a health and training center being built by the State Revenue Committee.

Santrosyan said that due to these projects the town population has jobs. "Today, people come to work in Dilijan from other regions of the country, and almost none of the townspeople have recently left abroad in search of a job," he noted.

Construction of the financial center in Dilijan will cost $80 million. The workers are building residential houses and cottages for about 150 employees of the Central Bank who will move to Dilijan with their families. This will be followed by construction of a kindergarten, a school and a university. The new facilities will also create about 100 jobs for local people.

Armenian leaders have repeatedly stressed their intention to transform the republic into a regional financial center; the authorities therefore intend to follow international experience and form a stable financial market in Armenia.

According to experts, the implementation of the program will require at least 2-3 years. At the first stage, Armenia should undertake certain legislative measures and form a back-office. In this regard, a regional research and education center is under construction in Dilijan; it will host numerous scientific forums, seminars and training programs for the financial system not only in Armenia, but also throughout the entire region.

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