A quirky guest – Marriott Hotel to be built on Armenian-Iranian border

Marriott plans to build a hotel in Armenia on the Iranian border.

Another Marriott for Armenia? Why? 

During the World Economic Forum in Davos, Armenian Prime Minister Nikol Pashinyan and Director of Marriott International Arne Sorenson discussed the possibility of expanding the company’s activities in Armenia.

Upon returning from Davos, Pashinyan spoke about the details of the project:

“The policy of Marriott International is such that they do not build anything and do not buy real estate, but rather rent it. In order to implement this idea, it is necessary to find an investor who will agree to build the building and agree on the project with Marriott – which it will later lease.”

Sorenson says discussions have already begun on specific issues related to the implementation of investment programmes by Marriott International.

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What else did the Armenian Prime Minister get up to at Davos?

Pashinyan says his visit to Davos was full of meetings and discussions with investors and businessmen from different countries.

Opportunities for cooperation were considered, in particular, at a meeting with the Chairperson of the International Development Agency of Japan, Shinichi Kitaoka, and a member of the board of Mitsubishi Heavy Industries, Christina Ahmadjian.

Prime Minister Pashinyan also discussed future projects with the head of Siemens, the chairman of the board of the Russian VTB Bank Andrei Kostin, and the general director of the Russian Direct Investment Fund, Kirill Dmitriev.

The vice-chair of the eBay board of directors also expressed readiness to visit Armenia to discuss the possibility of implementing investment programmes in the country.

What is the World Economic Forum at Davos?

The World Economic Forum (WEF) was held in Davos, Switzerland from 22-25 January. Over 3,000 representatives from 114 countries participated.

The main topics discussed during the forum were the challenges of global cooperation and the changes associated with the digital revolution.

This year, Armenia participated in the World Economic Forum for the third time. The country took part for the first time in 2009 and its delegation was headed by President Serzh Sargsyan. In 2018 Armenia was represented by Prime Minister Karen Karapetyan.

How do experts assess Pashinyan’s talks at Davos

“Armenia was recognized as the country of the year [by Time magazine], and we can say that investors in many countries are closely watching our country. Everything depends on the agenda that Pashinyan’s government has developed,” said economist Atom Margaryan.

Armenian National Assembly legislator and economist Artak Manukyan also stresses that the Davos Forum is an opportunity to create awareness about the country abroad:

“The recognition of the country indirectly leads to the attraction of new investments and the flow of tourists. However, we must be able to turn this interest into concrete projects.”