UAE businessman establishes eastern bakery in Armenia (video)

UAE businessman establishes eastern bakery in Armenia

PanARMENIAN.Net - With the support of Business Armenia, Golden Bakery has established an eastern bread factory in Armenia.

The $225,000 foreign investment was made by Khalib Varha, a businessman from the United Arab Emirates.

Production started on Wednesday, January 30. Loshik (a type of flatbread), zatar, cheese, other types of bread, as well as Middle Eastern cookies will be baked and sent to trade points across Yerevan

“We will invest another $150,000 during the next 3 years. We also aim to export our bakery products to Georgia," noted Sevan Artin, the CEO of Golden Bakery.

During the investment process in Armenia, Golden Bakery collaborated with Rivera Capital Investment Company, which developed a business plan and a development strategy.

"In addition to making mutually beneficial deals, we are also interested in increasing the wave of investment in Armenia," added Garen Mikirditsian, the founder of Rivera Capital.

 Top stories
Vahan Kerobyan said Armenia will most probably introduce a ban on the sale of Turkish products as well.
According to Vahan Kerobyan, a sharp decline in the travel industry was recorded last year, but now the situation has changed
Mher Grigoryan added that the government will ensure that the borrowed funds are spent efficiently.
Wizz Air Abu Dhabi will be regularly flying from the Armenian capital of Yerevan to Abu Dhabi, UAE.
Partner news
---