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The Board of Trustees of the Development Foundation of Armenia (DFA), led by Prime Minister Karen Karapetyan, summed up and selected the best three projects of “Rinnovate” competition announced for tourism development. The DFA organized the award ceremony and awarded the groups representing the three best projects, the foundation’s press service reported.

The first prize, the equivalent of the $15000 has been received by the group of “The Eco-Houses in Armenia” project, which aims to develop a touristic path from Khustup to Sanahin and Haghpat monasteries linking Armenia’s historic and scenic sites.

The second prize totaling to $10000 has been awarded to the group of “SevAp Resort” project, which have authored the concept of hotel construction and exploitation at 7 km distance from Shorzha village.

The third prize worth $5000 has been handed over to the group of “Yerevan Lake Smart Park” project, which aims to create a wide choice of entertainment for tourists and locals.

Prior to the awarding ceremony, the jury consisting of the representatives of international and state institutions chose the best five projects, first considering 60 ideas from Armenia and the Diaspora of the first stage, and at the next stages, discussing the 20 best business projects.

“Regardless of the results of the last round, after the end of the competition, the DFA will assist all five teams reaching the 3rd round to develop and pack their projects as well as find investors for the realization of the projects,” noted the DFA CEO Armen Avak Avakian. 

The project co-coordinator team thanks the Programs Evaluating Committee consisting of representatives from the EU Delegation, the United Nations Development program (UNDP), Armenian General Benevolent Union (AGBU), State Committee for Tourism and the DFA for the cooperation in the previous three stages.