YEREVAN, APRIL 30, ARMENPRESS. Caretaker Minister of Economy Vahan Kerobyan met with Carrefour Armenia CEO Vache Arsen to discuss the company’s expansion in the country, the economy ministry said in a news release.
Owned and operated by Majid Al Futtaim, Carrefour Armenia currently has three locations in Yerevan.
Carrefour Armenia revealed a 4-year development plan, whereby in the first year it will open 10 “convenience” type supermarkets in Yerevan. Then, in the next few years it will expand further and have presence in other cities across the country.
Arsen said they decided to expand given the measures taken in Armenia for the improvement of the investment environment. He expressed certainty that if this project is a success they will implement larger projects in the future.
Vache Arsen noted that the expansion of Carrefour in Armenia will enable to sell Armenian products also in the international chains of Carrefour around the world.
Editing by Stepan Kocharyan