Head of FMD KL Europe Kirit Velani announced the establishment of biotechnological park in Armenia.

He said this in a meeting with CEO of Development Foundation of Armenia Armen Avak Avakian, who visited the company to discuss the development projects.

According to the company, FMD KL Europe makes investments in order to equip the organization with devices and equipment following international standards. Only this year, investments of USD 1m were made in human capital training and upgrade of the technological park.

FMD KL Europe is the Armenian branch of FMD K&L international corporation that provides contractual research services to the world’s leading pharmaceutical and healthcare companies. In 3 years of its activities, the company has increased the number of employees to 150 and currently has a demand for 20 more specialists with international qualification. The aftercare team of DFA has supported FMD KL Europe at different stages of the company’s enlargement.

“We are opening a new biotechnological park in Armenia that will enable the company to increase the number of its employees to 250 and contribute to the development of the sphere. Our next step is aimed at establishing the basis of clinical research in Armenia, and we are planning to open our first clinic in 2018 that will start from the research of care products of first necessity, such as shampoos and creams, to the complex clinical trials,” Kirit Velani said.

Kirit Velani has presented the potential of biotechnological sphere, noting that it is at the stage of industrial development and can become the driving force of the Armenian economy.

“Two people, sitting in the Armenian lab, can create a material that can generate billions of revenue for the country,” Kirit Velani said.

The possible steps for the development of biotechnology were discussed at the meeting. The head of FMD KL Europe has also raised the issues of high prices for internet, unstable electricity supply and custom clearance in Armenia.  

“The main function of DFA is to facilitate the smooth operation of foreign companies and investors in our economy.  Our job is to expedite all the procedures these investors and companies encounter in the state system, related to the customs, taxation, or communication, enabling the businesses to generate revenue and, hopefully, to reinvest it in our country,” Armen Avak Avakian said.