High Commissioner Zareh Sinanyan visited the Bagheshian gold factory and took a tour with the company’s owner, Istanbul-Armenian businessman Efrin Bagh.
Bagh has invested $15 million in the village of Musaler in the Armavir region and currently has over 170 employees. The company has the potential to hire up to 1000 employees, but this process has significantly slowed down due to COVID-19 and a number of other obstacles in the Armenian investment arena. Mr. Sinanyan and Mr. Bagh discussed these obstacles during the visit and agreed to work with the responsible parties to solve the issues.
The jewelry factory also has a gallery and a store. The gold jewelry products made there are sold in Armenia and also exported to the United States, Europe and Russia.