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Time in Yerevan: 11:07,   29 March 2024

Government discusses establishment of multiple industrial enterprises with investors

Government discusses establishment of multiple industrial enterprises with investors

YEREVAN, NOVEMBER 27, ARMENPRESS. A number of investors are planning to establish machinery, clothing and other types of manufacturing enterprises in Yerevan and provinces, caretaker Prime Minister Nikol Pashinyan said during a campaigning event of the Im Kayl (My Step) bloc in Vanadzor today.

“Our compatriot investor has already taken the territory of the HayElektro factory in Yerevan and intends to create a machinery-building factory there, which implies several hundreds of new jobs. A photovoltaic battery production will be established in Armenia. The required equipment is already in place, and it only remains for the government to allocate the territory,” Pashinyan said.

He also addressed upcoming investments in provinces of Armenia.

“A clothing manufacturing production is planned to be opened in Artik with 200 jobs, a similar large plant will be opened in Gyumri in December. An elevator manufacturing factory is also planned. A new, modern gas cylinder manufacturing plant will be created in Lori in December, with hundreds of jobs,” Pashinyan said.

The caretaker PM said that this trend must transform the structure of Armenia’s economy and make it an industrial country, and that the most important step of the government for encouraging investments is the amendment of the tax code.

Edited and translated by Stepan Kocharyan








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