The Development Foundation of Armenia will continue its support to the Gyumri-based enterprises: the results are positive

The working group of the Development Foundation of Armenia, headed by the CEO of the Foundation Armen Avak Avakian, visited Gyumri to get acquainted with the production process of the companies that received export orders with the assistance of the DFA, as well as to discuss the investment projects with local authorities.

“Arshaluys” expands its production capacities

The company received its first export order during the international exhibitions with the assistance of the Foundation. The hosiery, produced by 50 workers of “Arshaluys”, is being consumed in Armenia and Russia. Based on the agreements, reached during the Armenian-Italian business forum, the company plans to launch production of jeans.

“Lentex” carries out one of the biggest export orders

“Lentex”, one of the major companies of Armenia producing hosiery and knitwear, has received one of the biggest export orders with the assistance of the DFA during international exhibitions. This year’s order, exceeding 100 million AMD, is being successfully implemented by the company, according to the initial timetable.  The 350 employees of the company produce 15 million pairs of high-quality hosiery and knitwear for men, women and children annually. The production is sold in Russian and UAE under the brand names “VIVA”, “LENTEX” and “DANNI”.

The CEO of the DFA Armen Avak Avakian expressed readiness to support the Gyumri-based enterprises to attend the international exhibitions to be held in autumn.

“The light industry enterprises of Gyumri make use of the state assistance effectively: they expand their production capacities and are able to negotiate and receive orders from abroad. Thus, the DFA will also try to diversify the geography of international exhibitions”, noted the CEO of the Foundation Armen Avak Avakian.

The Foundation will support the investment projects of Shirak

The isuues of  economic development of the region were discussed with the Governor of Shirak Arthur Khachatryan. A number of investment projects were examined with the Mayor of Gyumri Samvel Balasanyan in order to provide assistance in the scope of the projects.