YEREVAN, FEBRUARY 5, NOYAN TAPAN. Within the framework of programs on development of the Armenian economy, 161 million drams (about 527.8 thousand USD) was allocated from the reserve fund of the RA government to Mega Ararat LLC. The director of the Small an Medium Entrepreneurship Development National Center Ishkhan Karapetian said following the February 5 sitting of the government that the investment program submitted by the company received approval of the operative staff set up at the government for discussion of programs on support of the private sector. I. Karapetian noted that the investments will be mainly used for equipment purchase which will allow increasing the production capacities. Mega Ararat was founded in Vayots Dzor marz in 2005. The company produces 6 types of tea: from mint, thyme, haw, rosehip, also black and green tea. During the implementation of the investment program, it is envisaged creating 50 jobs (their current number makes 10) and involving over a hundred families from Vayots Dzor and adjacent marzes in herb collection. The company plans to export 90% of its production, mainly to Russia, and after undergoing the respective certification process - also to Europe. It was announced that in December 2008 the company sent 5,000 sample packs to Russia, thanks to which new agreements were reached, and now the process of signing an agreement on increasing exports is underway. I. Karapetian said that the operative staff is now discussing the invetsment proposals of other companies. "The state tries to regulate and improve the management system of enterprises by introducing a new culture for the given business," he underlined.

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