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


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.

Government-private sector co-op to create engineering town in Jrvezh


The Armenian government is considering the idea of creating an engineering city.
Deputy minister of economic development and investments Emil Tarasyan told ARMENPRESS they hope they will announce the launch of creating the engineering city very soon.
“We are talking about Jrvezh’s engineering city. The location is already decided, now we are solving the issues relating to allocation of lands. It will be an eco-system of Armenian startups. Right now there are 17 startups who are ready to create this cottage city. They will have separate branches”, Tarasyan said.
He said there will be an incubator administrative building in the city, and startups who will be engaged in engineering but won’t be able to allocate several hundreds of thousands of dollars to create labs or administrative buildings, will be able to rent spaces in the building and use equipment.
This is very important since engineering requires investing serious money and technologies.
Tarasyan said the engineering city will be created as result of government-private sector cooperation. The government will cooperate with National Instruments in this case.
Investments will be made 50/50.
The trading center of Philip Morris will be located in the engineering town, among others.

The idea of setting up a joint fund positively assessed by the Russian side


In the framework of Prime Minister Karen Karapetyan’s official visit to the Russian Federation, Dmitry Medvedev and Karen Karapetyan held an expanded meeting at Russian Premier’s residence with the participation of the two countries’ official delegations. During a working breakfast, the two delegations discussed a wide range of issues of mutual interest.In addition to the traditional vectors of interaction, the parties discussed ways of initiating and building up cooperative ties in several new areas through joint projects involving Russian capital.As key agenda items, the two heads of government singled out the implementation of joint investment projects and the strengthening of trade and economic relations in the Eurasian Economic Union format.The expanded meeting specifically discussed the proposal of the Armenian side to set up an Armenian-Russian investment fund with a view to funding Armenia’s priority economic sectors. The Russian side positively assessed the proposal. The parties looked at the possibility of Russian companies’ involvement in the free economic zone to be established near the Armenian-Iranian border. Appreciating the proposal, Russian Premier Dmitry Medvedev expressed the opinion that Russian companies will show interest in this issue.The meeting next looked at the possibility of providing agricultural equipment to Armenia under a lease agreement or other arrangement. The importance of setting up joint ventures in agriculture was emphasized on either side.At the end of the extended meeting, the delegations of the Republic of Armenia and the Russian Federation signed a number of documents aimed at deepening bilateral cooperation. The following instruments were signed, in particular: the Protocol between the RA Ministry of Energy Infrastructures and Natural Resources and Rosatom State Corporation on implementation of practical steps to comply with the obligations assumed under the October 7, 2015 agreement between the governments of the Republic of Armenia and the Russian Federation on early notification of nuclear accidents and exchange of nuclear and radiation safety-related information; the 2016-2021 program of interregional cooperation between the governments of the Republic of Armenia and the Russian Federation; a memorandum of cooperation between the RA Ministry of Economic Development and Investment and the RF Ministry of Industry and Trade. The sides exchanged notes on making amendments to the September 25, 2000 agreement between the governments of the Republic of Armenia and the Russian Federation on reciprocated visa-free visits of the citizens of the Republic of Armenia and the Russian Federation.Later today, the Prime Ministers of Armenia and Russia met with mass media representatives and issued a statement summarizing the results of the meeting.