Textile Industry Operator  established in Armenia

ArmInfo.The Textile Industry Operator Fund has been established in Armenia through the joint efforts of the Ministry of Economy, the UK Government's Good Governance Fund program, the European Bank for Reconstruction and Development (EBRD), and the Investment Council of Armenia.

The fund's primary objective is to implement industry policy, adopt  international practices, implement state support programs, and  promote Armenian textile products. It aims to serve as a platform for  collaboration between the state,  private sector, and educational  institutions to modernize production, stimulate exports, and promote  Armenian brands.

During the event marking the establishment of the Textile Industry  Operator, Deputy Minister of Economy Edgar Zakaryan noted that the  textile industry is one of our country's strategic sectors and has  great potential  in terms of exports and added value creation.  "Sustainable development in this sector requires a systematic  approach, innovative solutions, and effective mechanisms for  public-private sector cooperation," he said.

The event included information on the Fund's creation process, its  goals, governance model, and upcoming programs aimed at increasing  the competitiveness of the textile industry, diversifying markets,  and developing Armenian brands. Additionally, a panel discussion was  held to address the prospects for the development of the textile  industry and technological modernization.