Largest Biotechnology Park in Region Opened in Yerevan

YEREVAN (Armenpress) — The FMD K&L Europe has opened the largest biotechnology park in Yerevan on April 27. The list of participants of the ceremony included foreign ambassadors, world leading biotechnology, pharmaceutical, financial, IT and other leading figures. The FMD K&L Europe is a Chinese-American transnational company that has been operating in Armenia for 3 years and has already invested about $4 million during this period, Business Armenia reports.

The company 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 part, the company will cooperate with the largest pharmaceutical companies.

“Compared to other countries Armenia has important advantages: firstly, well-educated specialists and medical schools. Secondly, investing in Armenia is beneficial in terms of costs too. This increases the level of competitiveness. And finally, the favorable geolocation of Armenia will guarantee the entry into other CIS countries”, Mr. Dan Zhang, the Chairman of Board of Trustees of the FMD K&L global company, said.

“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”, Executive Director of FMD K&L Europe, Mr. Kirit Velani noted.

“These days the managing staff of FMD K&L Corporation is in Armenia too. They held the annual meeting of the company’s board in Armenia. This is a certain level of appreciation of the investment and business environment of our country”, CEO of Business Armenia, Mr. Armen Avak Avakian stated.

In the technology park, the Shtigen company has installed a hybrid solar power plant, which, besides from saving and protecting the environment, ensures uninterrupted operations even in case of power failure.