PM introduces Armenia's Industrial Policy Strategy

23 Dec '11

2 min read

Prime Minister Tigran Sargsyan attended Armenian Industrialists and Manufacturers Union's enlarged meeting.

Prime Minister Sargsyan stated: “All decisions arising from the export-oriented industrial policy should be implemented following comprehensive discussions held within the public-private sector partnership-based council operational by the Prime Minister. We will set up a new platform of cooperation with the private sector to provide for the legitimacy of our decisions. The council will comprise private sector representatives and experts.”

The Prime Minister stressed that for the first time in our country's history a project has been approved involving those industries with intellectual and export capacity: “This strategy is a new chapter in Armenia's economic history. The State undertakes to extend a well-structured assistance to the private sector in a bid to increase output and exports. The export-oriented industrial policy has been developed within two years involving experts from international organizations. Manufacturing and combined industries are among the main targets of this program.”

The strategy includes 11 sectors: wine and brandy-making, diamond-processing and clock-ware industries, textile, biotechnologies, pharmaceuticals, canneries, mineral water and juice bottling industries, as well as precision engineering.

Armenia's industrial potential has been assessed based on estimated physical, intellectual and infrastructural resources.

A private sector-attended strategy is already out for brandy-making, pharmaceutical and precision engineering industries. Other sectors will come under focus shortly. An action plan is due to be submitted to the government within the next three months for the development of precision engineering, pharmaceuticals and brandy-making industries.

In turn, president of manufacturers' union Vazgen Safarian said to be enthusiastic about the government's export oriented industrial policy initiatives. Their expectations were said to have been complied with in full. In his words, local manufacturers are pleased with the strategy and stand ready to participate in any initiative by formulating corresponding proposals and recommendations.

Government of the Republic of Armenia