Tuesday, 18 May 2010
From the Operative Staff toward ever-expanding business: the Prime Minister visits “Biokat” company
Prime Minister Tigran Sargsyan visited “Biokat” company, the business program of which had been approved by the prime minister-headed Operative Staff. Under the Government’s anti-crisis program, “SME Investment” UCC had been commissioned to prop up the company. As a matter of fact, Biokat was allocated AMD 120mn in loan proceeds with 13% of yearly interest, 36 months’ repayment period 6 of which on preferential terms. The loan has helped refurbish the new production line, laboratory.
Tigran Sargsyan was briefed on the outcome of credit-aided activities. The Prime Minister was told that the company employed 31 people with an ever-expanding range of own products. Work is complete at the ice-cream and yoghurt workshops which will be commissioned as of this May 25 generating new jobs.
A consultative meeting was held after the Premier’s tour of company facilities. The meeting discussed the founding of an association or organization to represent the interests of domestic milk processing entities. The new organization is supposed to monitor product quality and provide for a competitive environment.
After the meeting, Tigran Sargsyan answered the journalists’ questions. He stated in part: “From the very startup, our efforts were meant to be open and transparent. Any decision taken by the Operative Staff should be under strict public control. All the decisions are posted on the government’s website. Visits will be paid to eligible enterprises on a regular basis. We are today visiting one of them in order to see how the borrowed funds are spent, and it can be stated that we have succeeded as several new jobs have been created.”
