YEREVAN, MARCH 10, NOYAN TAPAN. Armenian president Serzh Sargsyan visited Liqvor CJSC on March 7. According to the director general of the company Sergei Matevosian, the visit of the president was related to March 8 as most of Liqvor's employees are women, while the other purpose of the visit was to become acquainted with the company's activities. S. Matevosian said that Liqvor was founded in 1991. It mainly produces intravenous solutions and ophthalmological drugs (60 types of drugs of 26 pharmaceutical groups), and their production is sold both in Armenia and almost all CIS countries. About 40% of production is exported. The company has 83 main employees, while their total number makes 107. It was mentioned that the global economic crisis has had its impact on Liqvor, mainly in respect of foreign markets, whereas sales in the domestic market have not declined. In the words of S. Matevosian, the company has submitted a business plan to the RA government's anticrisis operative staff with an expectation of support, and the business plan is now being discussed. The RA minister of economy Nerses Yeritsian said that Liqvor exports medicines of a million dollars a year, which is quite a high index for a pharmaceutical company. The business plan of the company is related to construction of a new factory, which will enable to create jobs in construction sector and to establish a high-tech production, which will provide Liqvor with an opportunity to increase its exports. The indicated business plan envisages a 10-year period, and after its implementation the value of the company will grow several fold. Besides, it is envisaged introducing GMP standards at Liqvor and increasing the range of its production based on own scientific developments. According to the minister, in recent years the company's revenues grew by 30-50% annually, and Liqvor can build a new factory with its own resources, but state assistance would allow it to reduce the period of construction work. He noted that one guarantee of success of Liqvor's plans is 40% participation of the EBRD in the company's capital (August 2005). Liqvor has submitted a business plan on receiving a 2.4 million dollar credit to the government. Out of this sum, 1.8 million dollars will be spent on construction of a new factory in Jrvezh district of Yerevan's Nor Nork community. The amount of envisaged investments makes 3m 480 thousand dollars.

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