Armenia plans to increase textile and cotton production

The government of Armenia has announced plans to create favourable conditions for the development of the domestic textile industry.

As part of these plans, the volume of textile production as well as exports should grow significantly by the end of this year, which should help to create at least 15,000 new jobs in the industry.

The increase of production is expected to be achieved through the provision of cheap state loans to producers as well as lower taxes.

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