News - Additional 1.9 billion drams to be allocated from Armenia state budget for ‘Engineering City’ construction

A regular Cabinet meeting of the Armenian government took place Thursday, chaired by Prime Minister Nikol Pashinyan, the PM’s office informs The government adopted a decision by which it is planned to allocate 1 billion 940 million AMD from the unused funds of the "Implementation of the Digital Conversion Process" project to the "Engineering City" project. As the Minister of High-tech Industry Mkhitar Hayrapetyan noted, 1 billion 880 million AMD from the mentioned amount will be allocated for the construction and furnishing of the Engineering Business Accelerator building, 67 million 900 thousand AMD for the coordination, maintenance and service of the Engineering Business Accelerator building and general infrastructure. It was noted that the 1 billion 940 million AMD will be the penultimate allocation to the "Engineering City" project and the last allocation - 1.1 billion AMD - is planned by the draft of the state budget for 2025. It is planned to create new state-of-the-art infrastructure in the "Engineering City," including five thematic laboratories for design, as well as a research center that will serve to solve cybersecurity problems and for semiconductor, aerospace, smart device, and other manufacturing. Educational centers, science, technology and space museums, libraries will also operate there.