Government decides to return Hayfilm studio into state ownership
100% of Hayfilm Studio CJSC’s shares worth over 2.7 million drams have been returned into ownership of the Armenian government, in accordance with a decision taken at the government session today.
Prime Minister Hovik Abrahamyan instructed responsible officials to control the transfer process to ensure maximum transparency.
It was reported earlier that Hayfilm studio after Hamo Beknazaryan would be returned into state ownership. The announcement was made by Arman Sahakyan, Chairman of State Property Management Committee under the Armenian Government. In his words, they worked long on the issue. Sahakyan said Armenian Culture Ministry will later launch new projects related to Hayfilm.
The film studio was sold for 350 million drams in 2005. Its current cost is estimated at over 3 billion drams.