Lebanese entrepreneurs are planning to make new investments and establish production in Armenia.

The Development Foundation of Armenia has informed that corresponding agreements were reached during the DFA business mission to Lebanon, which took place on December 12-15, 2017.

In particular, Gyumri Technology Center and MALIA Group have already signed a document after successful negotiations. The Lebanese company decided to provide orders of software, technological solutions to operating startups in Gyumri Technology Center. The startups will be trusted with maintenance of existing solutions.

Several other arrangements are at the stage of negotiations and discussions.

Tony’s Food aims to establish joint production of semi-finished food products in Armenia for subsequent export to Russia.

Meptico has developed a project to manufacture powder and nutritional supplements for production of sweets and pastries in Armenia, also for export to the Russian market.

Establishment of Mike Sport sportswear and accessories production in Armenia is at the stage of discussions.

Management and Development International Company aims to invest in the projects developed by the DFA.

Lebanese company Bycop Home Textiles is already establishing a textile production in Artashat. Although that business plan is not associated to the mission, the DFA has committed to support it with the whole range of the foundation’s post-production services.