Tosp knitting factory plans to revive pre-crisis production rate June 20, 2011 - 14:38 AMT PanARMENIAN.Net - Armenian Minister of Economy Tigran Davtyan visited Tosp Armenian knitting factory on June 20 and familiarized himself with its production capacities and prospects. “Currently, the factory employs 135 people, however there is a potential of raising this figure to 220, which depends on further market developments,” Director General of Tosp ojsc Suren Bekirski told journalists. “Although the crisis had strong influence on production, the next year we’ll manage to revive the pre-crisis production rate, that is, AMD400 million,” he said. In 2010, AMD156 million worth production was output at the factory, which provided 7% growth. As of June 1, 2011, Tosp ojsc manufactured production at the amount of AMD133,1 million, whereas export totaled AMD33,5 million. Regarding export volume increase, the Director General said that currently they are negotiating supply issues with Russia. In turn, the Economy Minister said that minor investments to the light industry would boost jobs opportunities and help attraction of foreign investments thanks to favorable trade regimes with CoE, U.S. and CIS countries. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |