VAYOTS DZOR, Armenia — The American University of Armenia (AUA) Extension is proud to announce the launch of a new business in Vayots Dzor. Beneficiary Vahagn Margaryan has successfully realized his business plan, establishing the Vahagn Resort in the Artabuynk community. This unique business cluster includes several amenities, including an events’ hall with a capacity of 200, as well as five bed-and-breakfast rooms, swimming pool, and steam bath.
This new business will benefit the community by creating six new jobs and providing locals easy access to top quality services. Supported by AUA Extension’s Turpanjian Rural Development Program (TRDP), it will serve as another successful addition to the local economy, particularly in a key industry of the region.
“Vahagn Resort” has great potential to attract tourists from the region and visitors from different parts of Armenia. The ribbon-cutting ceremony marked the opening of the resort and provided a great opportunity for the local community to take ownership of the project. Speeches of commendation were delivered by local public officials, entrepreneurs, and other stakeholders.
During the ceremony, Vahagn expressed his gratitude to AUA Extension/TRDP, particularly mentioning the support he received enabling him to grow the capacity of his business for better service potential. In his turn, AUA Extension representative Zorair Kirakosian emphasized the role of AUA Extension in creating a culture of entrepreneurship and innovation through education and training, particularly to benefit the border villages of rural Armenia.
The villagers view this business as an important driver to uplift the local economy. The business not only created new jobs but also provided an extraordinary opportunity for the local villagers to sell their locally produced food products to Vahagn. There is no doubt, they claim, that Vahagn’s business will stimulate economic activity and contribute to the advancement of the local economy.
The AUA Turpanjian Rural Development Program offers training, funding, and mentorship to new and existing businesses in rural communities across Shirak, Tavush and Vayots Dzor. To learn more about eligibility and application details, visit the program’s website. Applications are now open for the next round of training.
