New life for Armenia´s footwear industry
26/03/2009
The president of the Union of Industrialists and Entrepreneurs of Armenia, Arsen Kazaryan, is reported to have announced in recent days that the country will invest between $8 million and $10 million to set up at least four new footwear manufacturing operations.
The aim is to supply half of Armenia´s footwear needs from domestically manufactured shoes.
Armenia was an important source of shoes for the former Soviet Union, but the factories there have lacked investment for many years and most of the machinery in them needs updating. The investment Mr Kazaryan has spoken of could go a long way towards helping and towards revitalising the industry in his country.
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