A major renovation of the stadium was envisaged to take place in 1995, but the process was delayed due to financial difficulties.

In 1999, a large-scale renovation process was launched and more than US$3 million were spent on the development of the infrastructure, the seats and many other facilities, with the financial assistance of the UEFA Executive Committee.

By the end of 2000, the stadium was completely renovated with fully covered seating facilities.

The Republican Stadium was named after Vazgen Sargsyan by a presidential decree on December 28, 1999.

[5] Vazgen Sargsyan was the commander of the Armenian forces during the First Nagorno-Karabakh War and served as Defence Minister from 1995 to 1999 and Prime Minister from June to October 27, 1999, when he and other high-ranked officials were killed in the Armenian parliament shooting.