Chinese-American Company FMD K&L Europe has opened the region’s largest biotechnology in Armenia, Business Armenia reports.
that has been operating in Armenia for 3 years and has already invested about $4 million during this period.
The company, which has been operating in Armenia for 3 years and has invested about $4 million so far, is planning on investing another $3 million and increase the number of employees from 170 to 250 and then up to 500 in 2018. Within the scope of the biotechnology park, the company will cooperate with the largest pharmaceutical companies.
“Armenia has important advantages compared to other countries. First, it has well-educated specialists and medical schools. Second, investing in Armenia is beneficial in terms of costs. This increases the level of competitiveness. And finally, the favorable geographical location of the country will guarantee the entry into other CIS countries,” stated Mr. Dan Zhang, the Chairman of Board of Trustees of the FMD K&L global company.
“When I first came to Armenia I investigated the environment and found that the country has highly qualified doctors and biologists. Armenia may become the perfect platform for our company to enter Europe,” noted Mr. Kirit Velani, the Executive Director of FMD K&L Europe.
In the technology park, the Shtigen company has installed a hybrid solar power plant, which, aside from saving and protecting the environment, ensures uninterrupted operations even in case of power failure.
