The Yandex and Ural companies are interested in working on the territory of Armenia. Armenian Ambassador to Russia Vardan Toganyan stated during the Armenian-Russian business forum in Yerevan.

Toganyan said active work was underway with a number of large Russian companies that would like to use the Armenian jurisdiction to be represented in the region.

"Of course, the Armenian market is not very large for such companies as the Ural, Yandex, with which we are negotiating. But the Ural company, for example, is interested in assembly production with the prospect of increasing its presence in Iraq and Iran," - said Toganyan.

In this context, the diplomat pointed to the possibilities of the EAEU free economic zone.

It is worthy to note that on September 16 the Armenian government approved the release of 650 thousand euros to the regional administrations of Armavir, Gegharkunik, Lori, and Kotayk provinces.

Territorial Administration and Infrastructure Minister Gnel Sanosyan said the amount will be used to finance 15 subvention projects in 15 communities designed to develop their economic and social infrastructures.

He said five of these projects were approved in 2020 and the other ten in 2021. Originally, they were financed by community budgets and currently there is a need for the government’s co-financing.

The Armenian-Russian business forum was held in Yerevan on September 20. It was attended by deputy prime ministers, ministers, and representatives of Armenian and Russian big businesses. The event was supported by the Russian government.