FMD KL Europe – the Armenian branch of FMD K&L International Corporation – has announced plans to establish a biotechnological park in Armenia.
The company is currently making investments in order to equip the organization with devices and equipment meeting international standards.
“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,” head of the company Kirit Velani said at a meeting with Armen Avak Avakian, CEO of the Development Foundation of Armenia.
“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 Armenian government have been very supportive to us since the beginning of our activities,” Kirit Velani noted.
Kirit Velani 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 interlocutors discussed the possible steps the government can take to develop the sphere of biotechnology.
“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”, Development Foundation of Armenia CEO noted.