The Minister of Economic Development and Investments of RA Suren Karayan received the Head of “Wassef Group” Joseph Wassef. The company is one of the leading exporters and manufacturers of Egyptian cotton.

Joseph Wassef informed to the Minister that he wants to establish a light industry enterprise in Armenia. The investor noted that their chain of companies is specialized in all stages of production: knitting, rotating, digital and cloth printing, stitching and packaging. The company supplies products to the world famous brands.

The Minister discussed with the investor the possibilities of establishing production in Armenia, the support instruments of the Armenian Government for investors, export opportunities, and other details.

According to Joseph Wassef, the Armenian labor force is one of the best in the world and Armenian specialists are aware of their work, which will make their work easier. The investor noted that they could create more than 1000 workplaces.

According to the arrangement reached at the end of the meeting, with the support of the Ministry the businessman will start preparatory activity and necessary studies.