CAPITALIZING THE NATIONAL WEALTH THROUGH INVESTMENT FUNDS

Abstract

The political, economic, social, and environmental agenda of Armenia requires a systematic solution for the issues currently faced by the country. This paper supports the discussions of establishing the framework for a multi-layer investment vehicle, which is aimed at creating an opportunity for achieving the national goals. The proposed structure considers the accumulation of investment assets on a triple-level framework and assurance of inclusive economic development through the management of the investment funds. This approach eventually intends to encourage an economic democracy, social solidarity, and fair distribution of national wealth. It will help to put together the economic, social, environmental, and human recourses, targeting to: 1. Promote the growth and preservation of national wealth; 2. Boost economic development; 3. Increase the effectiveness of governance; 4. Capitalize on economic, social, and environmental resources. For the above-mentioned purposes, it is considered to establish a multi-pillar investment funds’ platform, which includes: (a) Sovereign Fund of Armenia, (b) PanArmenian Investment Fund, (c) Special Purpose and Specialised Funds.