Time in Yerevan: 11:07,   23 February 2024

FMD KL Europe increases investments, biotechnology center to be opened in Armenia

FMD KL Europe increases investments, biotechnology center to be opened in Armenia

YEREVAN, SEPTEMBER 8, ARMENPRESS. The CEO of the Development Foundation of Armenia Armen Avak Avakian has visited “FMD KL Europe”, where he discussed the development projects with the head of the company Kirit Velani.

“FMD KL Europe” is the Armenian branch of the “FMD K&L” international corporation that provides contractual research services to the world’s leading pharmaceutical and healthcare companies. During about 3 years of its activities, the company has increased the number of employees to 150 and currently has a demand for 20 more specialists with international qualification. The aftercare team of DFA has supported the “FMD KL Europe” at different stages of the company’s enlargement, the Development Foundation of Armenia told ARMENPRESS. 

During the meeting, the head of the “FMD KL Europe” company Kirit Velani announced the establishment of biotechnological park in Armenia. Currently, the company makes investments in order to equip the organization with devices and equipment following international standards. Only this year, investments of 1 million USD were made in human capital training and upgrade of the technological park.

“We are opening a new biotechnological park in Armenia that will enable the company to increase the number of its employees to 250 and to contribute to the development of the sphere. Our next step is aimed at establishing the basis of clinical research in Armenia, and we are planning to open our first clinic in 2018 that will start from the research of care products of first necessity, such as shampoos and creams, to the complex clinical trials. The Development Foundation of Armenia and the Government of RA have been very supportive to us since the beginning of our activities”, noted the head of the “FMD KL Europe” company Kirit Velani.

Kirit Velani has presented the potential of biotechnological sphere, noting that it is at the stage of industrial development and can become the driving force of the Armenian economy. “Two people, sitting in the Armenian lab, can create a material that can generate billions of revenue for the country”, Velani said.

The heads of the Foundation and the company have discussed the possible steps the Government can undertake to develop the sphere of biotechnology. The head of the “FMD KL Europe” company has also raised the issues of high prices for internet, unstable electricity supply and custom clearance in Armenia. 

“The main function of DFA is to facilitate the smooth operation of foreign companies and investors in our economy.  Our job is to expedite all the procedures these investors and companies encounter in the state system, related to the customs, taxation, or communication, enabling the businesses to generate revenue and, hopefully, to reinvest it in our country”, the CEO of the Development Foundation of Armenia remarked.


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