Three new enterprises have opened in Sisian and Goris in the Syunik region of Armenia, in the framework of the EU-funded project ‘Boosting the competitiveness of regional SMEs (small and medium-sized enterprises)’, which is implemented as part of the EU4Business initiative.
The Van and Meghu Hotels were opened in Goris and a souvenir production company was established in Sisian. All three SMEs participated in the ‘Successful Start’ start-up business support programme implemented as part of the EU project.
At the end of the training, they received a loan guarantee within the framework of the SME state support annual programme, while the ‘Boosting the competitiveness of regional SMEs project’ provided the companies with an overall grant of AMD 5 million.
Renovations were carried out in the hotels with the help of the loan guarantee and grant. The SME engaged in souvenir production acquired raw materials, sewing machines and other equipment, and has started to produce traditional souvenirs.
The EU4Business project ‘Boosting the competitiveness of regional SMEs’ aims to help regional SMEs improve their competitiveness and create sustainable employment opportunities in the Lori, Syunik and Armavir regions of Armenia.
