Armenian Economy Minister Visits Vitamax-E Company
06.09.2011,
03:43
Armenian economy minister Tigran Davtyan visited today Vitamax – E pharmaceutical company, which produces bacterial components that are used in the production of pro-biotics.
YEREVAN, September 5. / ARKA /. Armenian economy minister Tigran Davtyan visited today Vitamax – E pharmaceutical company, which produces bacterial components that are used in the production of pro-biotics.
Recently it started also production of fruit, vegetable and meat powder, which are used in pharmaceutical and food industries. The company has also developed a program to start production of baby food from ecologically pure home produced stuff.
"These products are most promising in terms of exports," said minister Davtyan, adding that the company uses local raw materials and, therefore, has no problems with the logistics. He said the government can help this company either through direct funding, or various tax incentives. The minister said the important question is to promote its products on the world market.
Company director Edward Dilanyan said the company produces some 18 types of bacterial powders and plans to increase production 10-12 times after installing new powerful equipment.
"In terms of money our output may reach three-four million U.S. dollars, we have such resources," he said. He said also a major problem is the dumping policy of companies involved in wholesale trade, importation of products made of cheap Chinese stuff, as well as the lack of cheap and long-term credits.
The company was founded in 1997 in Yerevan to import and sell dietary supplements. In 1998 Vitamax E began producing probiotic Narine. The company's products are fully compliant with international standards. Since late 90s Vitamaaks- E began selling its biotech products to CIS and other countries. In 2003 it sold some of its products to Japan, which was a turning point for the further development.
Then probiotic Narine was shipped to Russia, Belarus, Latvia, Lithuania, Uzbekistan, Kazakhstan, Belgium, Germany, the United States and then to Australia, New Zealand. Since 2004, the company produces bacterial preparations containing new lacto, bifido and coli bacteria. -0-
Recently it started also production of fruit, vegetable and meat powder, which are used in pharmaceutical and food industries. The company has also developed a program to start production of baby food from ecologically pure home produced stuff.
"These products are most promising in terms of exports," said minister Davtyan, adding that the company uses local raw materials and, therefore, has no problems with the logistics. He said the government can help this company either through direct funding, or various tax incentives. The minister said the important question is to promote its products on the world market.
Company director Edward Dilanyan said the company produces some 18 types of bacterial powders and plans to increase production 10-12 times after installing new powerful equipment.
"In terms of money our output may reach three-four million U.S. dollars, we have such resources," he said. He said also a major problem is the dumping policy of companies involved in wholesale trade, importation of products made of cheap Chinese stuff, as well as the lack of cheap and long-term credits.
The company was founded in 1997 in Yerevan to import and sell dietary supplements. In 1998 Vitamax E began producing probiotic Narine. The company's products are fully compliant with international standards. Since late 90s Vitamaaks- E began selling its biotech products to CIS and other countries. In 2003 it sold some of its products to Japan, which was a turning point for the further development.
Then probiotic Narine was shipped to Russia, Belarus, Latvia, Lithuania, Uzbekistan, Kazakhstan, Belgium, Germany, the United States and then to Australia, New Zealand. Since 2004, the company produces bacterial preparations containing new lacto, bifido and coli bacteria. -0-
