Time in Yerevan: 11:07:36,   20 June

Acting Minister Karayan briefs President Sargsyan on economic reforms and ongoing programs

YEREVAN, MAY 19, ARMENPRESS. During a working consultation with President of Armenia Serzh Sargsyan on May 19, acting Minister of Economic Development and Investments Suren Karayan briefed on the results achieved over development of export and attracting investments, as well as the upcoming works, press service of the President’s Office told Armenpress.

Suren Karayan said the Ministry takes steps to maintain the positive dynamics of economic figures registered in the first months of 2017 and to ensure further stable development.

The acting Minister stated that the Ministry plans to reach the export share to 45% in the GDP within the upcoming 5 years. He informed that the branches of industry that have potential for export growth and the development programs of operating enterprises have been examined for that purpose. Necessary state assistance is provided to them aimed at utilizing the existing potential. A list of appropriate goods for exchange of import has been formed which can be competitive towards the imported products in case of receiving respective assistance.

Suren Karayan reported to the President on the ongoing works aimed at entering new export markets and strengthening and expanding the positions in the existing markets. He also talked about the steps on promoting the Armenian products in the market of the Eurasian Economic Union, attracting them in big trading networks, forming EAEU common markets and joint production channels. During the meeting the events and prospects aimed at utilizing Armenia’s export potential within the frames of the EU’s GSP+ trade regime were discussed. Suren Karayan assured that works are being carried out towards wider use of export support tools and increase of their effectiveness in case of necessity.

The acting Minister informed that the action plan for improving Armenia’s business environment in 2017 has been developed, and it is expected that Armenia’s position in the World Bank’s ‘Doing Business’ report will be ranked 26 from 38.

Suren Karayan also briefed the President on the process of amendment works of the new law on “Foreign Investments” which proposes new protection guarantees for investors. He also talked about the presentation of investment attractiveness and potential investment programs, in particular, the investment programs platform where currently 55 investment programs are submitted. According to the acting Minister, the Syunik economic zone which aims at boosting investments will launch in autumn 2017.

The acting Minister’s report also reflected the Ministry’s works carried out in tourism field. Based on the report, it is expected to double the number of incoming tourism visits until 2020.

At the end of the consultation President Serzh Sargsyan gave respective instructions. 

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