New $100 Million Investment: 300-400 Jobs to Be Created

On February 27, Armenian Deputy Prime Minister Tigran Avinyan met with a delegation from the Chinese company "Guoming," led by President He Yurong. The meeting was also attended by Armenia's Minister of Economic Development and Investments Tigran Khachatryan.

According to the press service of Deputy Prime Minister Tigran Avinyan, while welcoming the guests, he noted that the number of foreign business delegations received from China in 2018 was the highest, and expressed confidence that these frequent interactions will lead to a significant strengthening of Armenian-Chinese trade and economic ties.

Thanking for the reception, He Yurong mentioned that in December 2018, an Armenian-Chinese Friendship Development Association was established with the participation of the company, aiming to promote intercultural communication, trade, and industrial development.

The Chinese businessmen expressed their intention to build a modern warehouse economy in Armenia to serve trade flows with the EAEU, EU, and other countries. Furthermore, the company plans to create an aluminum industrial zone in Armenia, which will feature aluminum products, particularly from various furniture manufacturing companies, most of which will be exported. In total, the scope of the investment projects amounts to approximately $100 million, aiming to create 300-400 jobs.

The Deputy Prime Minister emphasized that the government pays great attention to the protection of investments and has initiated the development of a new investment protection law in this regard. He also assured that the government will support all projects of the Chinese businessmen.