New biotechnology park is launched in Armenia

| By | Armenia, Biotechnologies, R&D
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The FMD K&L Europe opened the largest biotechnology park in Yerevan. 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 told Armenpress. 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 park, 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.

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.

SOURCE: armenpress
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