After the week-long investment campaign in France, the delegation of the Development Foundation of Armenia has returned with new proposals for cooperation.

As reported the press service of the Development Foundation of Armenia, meetings were held with the leaderships of 23 previously targeted companies, French companies in Armenia and the Diaspora and several districts. The French businessmen were told about the opportunity to enter the markets of the Eurasian Economic Union and Iran via Armenia, which is one of the main motives for cooperation with Armenia. “Our meetings with businessmen in Paris, Marseille and Lyon and the active discussions on the projects show that Armenia is an interesting country for French businessmen. In particular, potential investors are observing the entrance into the large markets of the Eurasian Economic Union and Iran via Armenia,” Executive Director of the Development Foundation of Armenia Karen Mkrtichyan said.

During the meetings, the potential partners were more interested in Armenia’s investment opportunities in the IT and energy sectors, the manufacturing of clothes and agriculture and proposed the idea to use medicinal herbs for the production of teas, food, drinks and cosmetic products, reported the news service of the Development Foundation of Armenia.

“The French businessmen are seeking partners in Armenia dealing with the production of medicinal herbs, natural oils, extracts and condensed substances of fruits and vegetables. We suggest that Armenian companies interested in the collaboration establish contacts with the administration of the Development Foundation of Armenia in charge of investments. The collaboration will contribute to the growth of experts, and the Foundation is ready to support investors in all stages of the process,” Karen Mkrtichyan noted.

The French businessmen also presented investment programs during the conference held in Paris with the support of Business France. During the conference, the participants considered the plan for construction of an approximately $115,000,000 factory for reprocessing petrol products near the border of Iran. The French companies based in Armenia presented their problems and enlargement projects. Biopost, which produces organic substances and wants to make an investment in Armenia, is seeking a partner in the agriculture sector and will be producing 95 percent of the raw material in Armenia.

Upon its return to Armenia, the team of the Development Foundation of Armenia in charge of investment promotion and support is working on implementing the reached agreements and providing packages of necessary information to the companies. The parties have come to an agreement according to which the Foundation will help organize the visit of France’s leading textile factories to Armenia to establish partnerships. Delegates of French small and medium enterprises will be visiting Armenia in September. According to another agreement, students of the French University in Armenia will have the opportunity to conduct their one-month internships at Business France.

The February 21-28 investment campaign in Paris, Marseille and Lyon was one of the programs of the Investment Administration of the Development Foundation of Armenia for the year 2017 and was held as part of the Twinning Program, in partnership with Business France.