Monday, 14 November 2011
Tigran Sargsyan, “The implementation of an industrial strategy will increase the exports volumes in different spheres significantly.”
On November 13, The Board of Trustees of the National Competitiveness Foundation of Armenia held a recurrent sitting in Sevan, chaired by Prime Minister Tigran Sargsyan. After consideration and approval of the protocols of the last sitting, the participants also discussed Armenian economic development issues, based on the experience of other countries.
Later, the Prime Minister presented the details of Armenia's industrial strategy, which was developed in cooperation with the World Bank. According to Tigran Sargsyan, it represents an industrial policy, aimed at increasing the exports volumes. The strategy includes eleven branches of industry.
"We have tried to reveal the industrial potential of our country according to branches, and assess what raw material, intellectual and infrastructural recourses we have," said the Prime Minister. He noted that programs in the three main fields, cognac production, pharmaceutics, and instrument engineering, have already been developed with the representatives of the private sector, headed by the RA president. According to Tigran Sargsyan, the strategic programs of these spheres imply a rapid increase in exports volumes. In particular, it is expected to triple the brandy exports, and quadruple the pharmacy exports by 2020. "We aim to increase our country’s industrial capabilities and boost the exports volumes through cooperation between the state and the private sector. This is a serious step, because since Armenia’s independence, for the first in the history of our country, we will have an industrial strategy with sectoral priorities," the Head of the Government noted.
