Yerevan/Mediamax/. Today, Armenian President Serzh Sargsyan took part in the opening of a new factory of Liqvor pharmaceutical company in Jrvej.

Director General of the company Sergey Matevosyan said that the company was founded in 1991 in a 10 square meter room, and today it is already a 3250 square meter plant, which meets all the requirements of European GMP standards and doesn\'t have analogues in the region, Mediamax reports.

Sergey Matevosyan noted that the construction of the factory began in 2008-2009 crisis years and became possible only due to the assistance of the Armenian government.

Armenian Minister of Economy Tigran Davtyan noted that the government assisted to the company in two directions: crediting in the amount of AMD 800mln ($2mln) by the government\'s anti-crisis headquarters as well as delay of VAT payment for the imported equipment.

The total volume of investments directed to the construction of the factory and acquisition of the equipment stood at $4,5mln, $1mln of which was rendered by the European Bank for Reconstruction and Development (EBRD), which has become the company\'s shareholder in 2005 (EBRD owns 45% of company share).

Liqvor produces 70 types of medicines (intravenous, injection and ophthalmological preparations) and exports about 40% of its production to CIS states.

According to Sergey Matevosyan, the compliance with GMP standards will allow the factory to enter new export markets, triple the production and double the number of employees.