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In the scope of Armenia - United Arab Emirates investment forum held on March 22, apart from the Memorandum of understanding to invest 100 million USD in solar energy projects in Armenia, signed were three other memorandums in the n the sectors of agriculture and hydropower, Development Fund of Armenia (DFA) reported.

To remind, the forum organized by Armenia’s Development Fund and Chamber of Commerce of Abu Dhabi is called to boost economic relations between Armenia and Arab states, encourage contacts between the entrepreneurs, present the investment climate in Armenia and mutually beneficial investments projects in different areas

According to the source, a Memorandum of Understanding was signed between the “Hydro Corporation” CJSC and Estekshaf “Investment Company” to launch cooperation toward developing the renewable energy sector, specifically in hydro energy sector in Armenia. Large scale and long term projects are envisaged to be implemented in the renewable energy sector aimed at modernization of the hydro stations of low production capacity, with heavy loans portfolio and constructed in violations of environmental norms.

Additionally, an exclusive agreement was signed between “Tamara Food” CJSC and “Natural Organic Healthy Food” (NOHF) on organic food delivery to five-star and higher rated hotels in six Arab states with the first batch scheduled for early April 2017.

The Armenian-Emirati Businessmen Association has signed a memorandum with “Natural Organic Healthy Food” (NOHF) on opening organic food recycling workshop in Armenia.

Within the framework of the forum, potential investors, project owners and business executives of up to 100 companies from both Armenia and the UAE held B2B meetings aimed at developing further economic cooperation between Armenia and Arab countries.

Tasting events of Armenian goods were held, featuring natural water organic juice, compote, chocolate, honey, dried fruit the products of more than 10 companies growing fresh fruit