Multi Group Concern and Syria’s highly recognized Sabbagh Group have signed a joint investment contract to carry out a large-scale investment project that will restore the reputation that the Armenian textile industry once had. The contract envisages creating more than 4,000 jobs in Armenia’s textile industry in the course of five years. The amount of the initial investments will exceed $30 million dollars. Head of the administration of Sabbagh Group Amar Sabbagh informed that his company will be making a large investment in Armenia, taking into consideration Gagik Tsarukyan’s reputation and the company’s trust in him.

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