ArmInfo. The Chinese company "Guoming", which unites manufacturers of aluminum products from China, intends to invest about $ 100 million in the creation of an industrial zone in Armenia. The Minister of Economic Development and Investments of Armenia Tigran Khachatryan said this on February 28 after the sitting of the Cabinet of Ministers.According to him, aluminum products, in particular, furniture will be produced on the territory of an industrial zone of 40 hectares.
Products will mainly be exported to EU countries. In general, the volume of investment programs reaches $ 100 million, it is planned to create 300-400 jobs.The project will form a logistics hub in Vanadzor, given its proximity to the railway. This, as it is expected, will allow to organize the export of products from the RA more qualitatively. Chinese entrepreneurs also intend to build logistics warehouses in Armenia, which will serve trade flows in the EAEU, the EU and other countries.The multi-profile Dalian Guoming Group has been operating on the market since 2007 and is included in the <One belt - one way> mega-program. It is engaged in the design, production, installation of mechanical and electrical equipment, utility construction, decoration, and intellectual design. The company is also busy processing the steel base, its enterprises occupy an area of 195 thousand square meters, the design production capacity is 85,000 tons. Representatives of the company were already in Armenia in October last year and met with Tigran Khachatryan.
The day before they met with Deputy Prime Minister Tigran Avinyan.It should be noted that according to the National Statistics Committee, the foreign trade turnover of Armenia and China in January-December 2018 with an annual growth of 29.3% reached $ 771.1 million. At the same time, the negative balance of trade with China increased, which reached $ 556.6 million
