Bay Area Couple Invests in Karabakh Economy

STEPANAKERT (Armenpress)–A closed joint stock company Arvard–established by a married couple of Armenian-Americans–Vardkes and Alice Anivyan–a year ago in Stepanakert–is producing diary products that have great demand in the local market.

The couple that decided to settle in Karabakh–bought the completely destroyed local diary products factory a year ago and did not spare efforts to reconstruct and redesign the new factory. The shop is now ready for opening in Yerevan.

"We have made big investmen’s–but until now we have not seen any profits. But we are not losing hope. Everything comes in due time," Anivian told Armenpress adding that the most important thing was giving the local people new jobs with wages higher than the median wage in Karabakh.

Anivyan said that a contract was signed with an Italian company that will help them to produce four kinds of ice-cream next year. Beginning this October–all employees of the company will have lunch free of charge at the factory’s canteen.

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