Friday, November 24 2017 13:47
Naira Badalian

Egyptian company intends to establish production in Armenia in the sphere of light industry

Egyptian company intends to establish production in Armenia in the sphere of light industry

ArmInfo. The Minister of  Economic Development and Investments of Armenia Suren Karayan  received the head of Wassef Group Joseph Wasef. The parties discussed  the possibilities of setting up an apparel manufacturing enterprise  in Armenia.

As the press service of the Ministry of Economic Development and  Investment informs, Joseph Vashef announced plans to establish the  production of "Wassef Group" cotton fabrics in Armenia, noting that  within the program there is an opportunity to create about 1000 jobs.  According to him, the company he leads is working at all levels of  production. The company also established ties with global brands,  successfully supplying them with its products.

The Head of the Ministry of Economic Development presented him the  tools of business assistance established by the Government of the  Republic of Armenia.  Wassef Group is a leading exporter and  manufacturer of knitwear from cotton yarn in Egypt. Founded in the  early eighties by Joseph Vassef, the corporation is now considered  one of the pioneers in the field of ready-made garments and textile  products with a capital of more than $ 50 million.

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