Diaspora Armenians to invest millions of dollars in Turkey, Turkish media allege

A group of US Armenians is currently engaged in negotiating with Turks for making big investments Turkey, the co-chairman of the Armenian-Turkish Business Development Council, Kaan Soyak, has said, according to the Turkish newspaper Sabah.

"The parties are currently negotiating over the investment of a large sum which makes more than $200 million," Soyak has said. He added the investors are particularly interested in the textile industry and tourism.

Earlier he had announced of American-Armenian billionaire Kirk Kirkorian's alleged plans to make large-scale investments in Turkey's hotel industry. Later, however, the information was refuted by the Lincy Foundation spokesman and editor-in-chief of the California Courier, Harut Sasounian.