On April 29, 2021, the Acting RA Minister of Economy Vahan Kerobyan met with Vache Arsen, the CEO of “Majid Al Futtaim Group, Carrefour Armenia”, to discuss a new investment program which was announced by Vache Arsen during the online meeting-discussion entitled “Economic Prospects 2021” organized by the European Business Association in Armenia on April 21, 2021.

According to the four-year development plan drawn up by “Majid Al Futtaim Group, Carrefour Armenia”, the latter will expand its activities in Armenia by opening in the first year in Yerevan 10 supermarkets of “comfortable” concept. There is already a supermarket of the said concept operating at 30/3 Gyulbenkyan Street in Yerevan. Over the next few years, it is planned to expand the scope of activities and ensure the company’s representation in the regions of Armenia, too.

Vache Arsen underlined that the idea of ​​expansion was implemented due to the recent measures taken to improve the investment climate in the country, and expressed confidence that in case of successful implementation of this program, larger investment projects will be implemented in near future.

About 80% of the products offered in Carrefour trade floors are supplied from within the region, which plays a major role in supporting local producers, suppliers, and farms. “Majid Al Futtaim Group, Carrefour Armenia”, in order to encourage the sale of Armenian products and support local producers, has provided a large display and visibility of Armenian products in all its trade floors. All of Turkish products previously displayed in the trade floors have been replaced with Armenian and European products.

Vahan Kerobyan and Vache Arsen discussed the possibility of selling Armenian products in the entire chain of Carrefour supermarkets abroad. Vache Arsen noted that expansion of Carrefour’s representation in Armenia will provide an opportunity to sell Armenia-made products also in Carrefour’s international networks.

During the meeting, a number of issues and problems existing in market were also discussed, in particular, issues related to execution of control over non-original products appearing in market. Vahan Kerobyan informed that the Market Surveillance Inspection Body is taking clear steps to offer solutions to this problem.

It should be noted that in parallel with sustainable development projects, “Carrefour Armenia” plans to take clear steps for digitization of business, in particular, through creation and development of an online trading platform, which will make the shopping process of Armenian consumers even more comfortable.

Vahan Kerobyan expressed his readiness to support, within the limits of his competence, all investment initiatives aimed at development of our country. At the end of the meeting, Vahan Kerobyan walked around the supermarket and got acquainted with the Armenian products displayed in the trade floor.