Time in Yerevan: 11:07,   7 May 2024

Sidorsky sees economic perspectives requiring investments in Armenia

Sidorsky sees economic perspectives requiring investments in Armenia

YEREVAN, JULY 21, ARMENPRESS. The Minister of industry and agriculture of the Eurasian Economic Commission Sergey Sidorsky points out promising directions of Armenia's economy where Armenia can deepen cooperation with the other members of the Eurasian Economic Union. The Minister mentioned that most promising branches of the Armenian economy are production of construction materials, light industry and agriculture in an interview with journalist at the Ministry of Economy of the Republic of Armenia. “Today, we have a precise notion about the Armenian industry. For example, you possess high-quality construction materials and today a lot of construction material is used in the member states of the union. I think that this sector is perspective for Armenia. Construction materials are imported from non-member states now. Thus, it is time to substitute with Armenian production, which, I think, will be done within a short period. Shoe and textile productions are also promising which need to develop and export to the market of the Eurasian Economic Union”, as “Armenpress” reports, Sidorsky stressed. To the question what kind of investments should be expected in Armenia in the near future, Sidorsky clarified that that the EAEU has made a lot of efforts with the Eurasian Bank as a result of which investments will be made in the promising branches of all member states. The Minister particularly spotlighted the attraction of investments in the agricultural sector of Armenia for the development of which new machines, tractors and combines are necessary. He hoped that it will be implemented in the framework of long-term projects. Sergey Sidorsky also emphasized that Armenia is a country with no border with the union. Thus, it is important to realize which issues can find a solution in the framework of short and long-term projects and reach Armenia to the EUEU economic standards.








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