Canadian firm to launch production of food additives in ArmeniaOctober 9, 2018 - 18:07 AMT PanARMENIAN.Net - With the support of Business Armenia, Canada's Atlas Pharmaceuticals will invest $1.2 million to found a factory for the production of food additives in Armenia. A corresponding Memorandum of Understanding was signed by the President of Atlas Pharmaceuticals Giro Jebenyan and the International Commerce team leader of Business Armenia Narek Aleksanyan. Under the document, Atlas Pharmaceuticals will establish nutritional supplements production and a clinical research center in Armenia. The investment program is expected to start in the first half of 2019, with 30 people set to be employed. The company representatives consider several production locations, including in the provinces. "This investment comes after a Canadian outreach business mission led by Deputy Prime Minister and the Chairman of the Board of Trustees of Business Armenia Tigran Avinyan," Business Armenia CEO Armen Avak Avakian said. "The products made after the clinical research will be supplied to the local and EAEU markets," said Jebenian. "Last year Atlas Pharmaceutical purchased the QPharm and expanded the research division. Currently, it produces food supplements, herbal medicines and probiotics that are used to prevent or treat illnesses," said Aleksanyan. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |