AUA TRDP Supports Opening of Wood Processing Factory in Vayots Dzor2 min read
AGHNJADZOR, Armenia — The American University of Armenia (AUA) is happy to announce the successful launch of a new business in the Vayots Dzor region of Armenia with the sustained support of the Turpanjian Rural Development Program (TRDP). The official opening of the wood processing factory located in the Aghnjadzor community took place on February 23, 2022. Arthur Simonyan, an AUA TRDP beneficiary, established this business creating two new jobs in the community.
This young entrepreneur had decided to establish a wood processing factory equipped with modern mechanized equipment. With that idea, Simonyan applied to TRDP for assistance. That led him to enroll in the TRDP training program where he gained entrepreneurial knowledge and skills in marketing, financial management, operational strategy, and general business acumen. Upon completion of the training, he was approved for a loan to realize his business plan.
“I am grateful for the consistent and high quality of knowledge I gained. I look forward to continuing to work with AUA TRDP, and I am sure I will turn to its support once again to realize other business ideas that I have,” notes Simonyan.
Today, the wood processing factory is working at full capacity, producing different types of boards. The sales are increasing day-by-day and Simonyan is gradually expanding the customer network he has built.
As a socially responsible entrepreneur, he strictly adheres to the environmental and ethical requirements and guidelines of the program.
The AUA Turpanjian Rural Development Program provides education, funding, and consultations to the existing and startup businesses in the rural communities of Shirak, Tavush, Vayots Dzor, Gegharkunik, Lori, and Ararat provinces of Armenia, as well as in Artsakh and Javakhk (Georgia). The list of eligible communities and eligibility criteria can be found here. The program continues to accept applications for the next round of training.