Products, Companies & Markets


A Success Story from former intern of Business Armenia
/Oct 17/

With the support of Business Armenia, Tashjian Group has begun footwear manufacturing and is preparing to export the first batch.

The American-Armenian businessman Colle Tashjian developed the business plan during his internship at Business Armenia (former Development Foundation of Armenia) and implemented the project a year and a half after completing his internship.
Colle Tashjian started the business with an initial investment of USD 60,000 and has partnered with one of Armenian producers. The footwear is produced from ecofriendly materials and is entirely handmade.
The already produced 400 pairs of footwear will be exported to the United States in the nearest future. The company conducts online sales at
“This is a classic example of how an economist can turn into an investor and how to enter big markets with little investment. Our team consulted the company on customs duty, tax, legal procedures and cargo transportation. We are ready to provide support like this to any investor and exporter,” CEO of Business Armenia Armen Avak Avakyan stated.

“Our sports shoes have high-quality classification. I have studied the history of the Armenian shoe and decided to start from the roots, choosing Areni 1 as the brand for our products. We have cooperated with designers to combine the latest fashion trends and traditional ones in order to make high quality products,” CEO of Tashjian Group Colle Tashjian said.
Investors’ support manager of Business Armenia Arman Khachatryan said that the company’s founder has five-year business development plan. Within the framework of the investment program he’s planning to introduce unique technologies for high-quality raw material processing in Armenia. This will also give an opportunity to organize the whole chain of shoe production in Armenia without entirely or partially importing the raw materials.

Armenia Wine company to increase its investment program
/Oct 18/ARKA/

YEREVAN – Armenia Wine Company will add to its investment program, the acting Minister of Economic Development and Investments Tigran Khachatryan said during a government meeting today.  The government decided today to provide the company with benefits regarding customs duties on imported equipment and raw materials.
The Armenia Wine Company has already invested 4.7 billion drams. The benefits awarded to the company are worth 1.4 billion drams, according to Khachatryan. He said the company plans to import equipment and raw materials in the amount of 3.4 billion drams, which will create 144 jobs with an average salary of 204,000 drams.
Armenia Wine Company operates in the Sasunik community, selling its products to Russia, Belarus, Bulgaria, the Baltic States, France, Belgium, the Czech Republic, the USA, Canada, Mexico, Israel, China and Japan. 
The production capacity of the enterprise in mid-2017 was 4 million bottles of wine, 1 million bottles of champagne and 3 million bottles of brandy. ($ 1 – 483.9 drams).

Armenia sees robust growth in ice cream, curd output in eight months
/Oct 18/Panorama/

Ice cream and curd production grew significantly in Armenia during the first eight months of this year, according to the latest figures released by the National Statistical Committee.

A total of 11,562,600 liters of ice cream were produced in the country from January to August 2018, up by 27.4% from the same period last year.

Meanwhile, Armenia’s curd output registered a growth of 26.6% in the reporting period. The country produced 76,100 liters of curd this year against last year’s 60,100 liters.   

Around €75 million may be attracted under Armenian-French water resources management agreement
/Oct 19/ARKA/

YEREVAN – The Armenian environment ministry’s water committee signed Thursday an agreement with Artois Picardie Water Agency to receive technical support for managing water resources. 

The aim of the agreement is to create mechanisms for strengthening institutional technical cooperation in water resources management and an effective use of technical means. 
“We are happy to sign the agreement, taking into account the experience of France in water resources management,” said Armenian Acting Nature Protection Minister Erik Grigoryan.
French Ambassador to Armenia Jonathan Lacote, on his side, said that the agreement gives room for more expanded cooperation, not only with Veolia, a French company supplying water in Yerevan, but also with another company – Artois Picardie. 
He said that the agreement lays groundwork for joint management and monitoring of environmental norms observation in Ararat and Armavir provinces. 
In his words, the document may serve as basis for investment of about €75 million in effective use of water resources in house holding and farming.  
The Armenian-French agreement was signed as part of the European Union Water Initiative plus for Eastern Partnership countries (EUWI+).  
Veolia Jur, a subsidiary of France’s Veolia Generale des Eaux, is the sole water and sewerage operator in Yerevan and some provinces.

Armenian PM Attends Launch of Mining Farm Claiming to Be One of ‘World's Largest'

The opening ceremony of a new mining farm touting itself as one of the “world’s largest” was held in the Armenian capital Oct. 18, according to a report by local platform News Armenia. The Armenian Prime Minister and other top officials were reportedly in attendance.

The new mining farm is reportedly a joint venture by major Armenian conglomerate Multi Group, founded by oligarch and politician Gagik Tsarukyan, and controversial international mining firm Omnia Tech.

One of participants of La Francophonie Economic Forum to establish Canadian ISB engineering company branch in Armenia
/Oct 20/

Gevorg Torosyan, who participated in the recent La Francophonie Economic Forum in Armenia, is going to establish the branch of Canadian ISB engineering company in Armenia by the support of the Enterprise Incubator Foundation (EIF), deputy minister of economic development and investments Mane Adamyan said on Facebook.

“The company produces security devices which are attached to different production devices and block the devices during human work with sensors in order not to harm the employees. At this stage ISB Armenian branch will be engaged in improvement of software, and at the next stage the devices will already be produced in Armenia.

It’s worth mentioning that one of the key parts of these devices is being produced in Armenia’s Goris for a long time, and our compatriots have exported this part to Canada for many years aimed at organizing the complete production there. We have agreed with Mr. Torosyan to organize the whole cycle of production of the devices in Armenia soon”, Adamyan wrote.