The upkeep of the government-owned ArmenFilm studio is unrealistic, according to Armenian Minister of Culture Hasmik Poghosyan.
“Maintaining ArmenFilm is a very complicated issue. [Even] a country like Russia can’t afford to modernise its film studios,” said Ms Poghosyan.
According Ms Poghosyan, collaboration with the private sector is necessary, although the search for investors has proved futile thus far.
“We are now talking about the basis of our film production, which is an expensive issue. The government will not be able to solve this issue without the help of the private sector. Soon we will be able to outline our program and understand what we want, after which we will enter into talks with people who want to be involved,” the Minister said.
In the summer of 2015 the ArmenFilm studio was re-nationalised after the Armenian government approved a decision by shareholders to re-register the company and return its shares to the state.