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Official News

Tuesday, 31 May 2005

Today Prime Minister A. Margaryan, Chairman of Board of the Armenian Development Agency, has called a meeting of the Board. Discussed were issues concerning the discharge of the assignments given at the previous meetings, the progress in ADA reforms, as well as the implementation of the 2005 plan of action for the first quarter and other issues.

With reference to agenda item 1, Mr. Vahagn Movsisyan, Director General of ADA, reported that all of the four tasks set at the latest meeting had been complied with. In particular, the members of the Board had submitted proposals concerning the 2005 program of ADA activities. These proposals were subsequently used in the program design. The 2005 annual budget of the agency was discussed with the Ministry of Finance and Economy and was approved by the Board at the meeting at hand. The Minister was also forwarded a proposal on the guidelines for holding workshops and study courses under the Foreign Investment and Export Promotion loan program. In line with another assignment, a meeting had been held at the premises of the Agency with Mr. Roger Robinson, Head of the World Bank Armenia Office. Said meeting resulted in the design of a program for continued activities under discussion at this Board sitting. On the whole, it was approved by the Board and is due to be forwarded to the World Bank for consideration.

Mr. Vahagn Movsisyan reported back the activities implemented by the Agency in the first quarter of 2005. He indicated that a considerable amount of work had been done towards attracting foreign investment in support of the exports. In particular, the Agency had contributed to the preparations to Expo-2005 in Aichi (Japan) and the WFSTEC, an exhibition of manufactured goods held in the U.S.A.. A market study had been completed in Ukraine (Kiev) jointly with DAFASME company and, in cooperation with the Greek Center for SME Development, marketing activities were carried out and a training program completed for viticulturers in Athens. According to the report, the first representative campaign for testing the European market had begun since January, 2005. A selected group of 1624 target companies were sent marketing letters as recommended by the strategic consultant of the Agency. 50 letters were received in reply, among which 10 proposals of cooperation from companies manufacturing precision instruments, engaged in electronical production, organic chemistry, pharmaceutical products etc. Underway are the activities relating to the marketing campaign due to be conducted in the United States. Mr. Vahagn Movsisyan said that in the period under review, the Agency had actively collaborated with the UNCTAD, the Armenia office of Siemens, a number of Iranian and US-based companies. The Agency took part in the INFORMEX-2005 held at Las-Vegas in January 17-20, 2005. The Agency, in its capacity of a secretariat for the Business Support Council under RA Prime Minister, had initiated the activities aimed at awareness raising as to the role of the Council in the efforts for improving business environment in Armenia that led to the drafting of a detailed report of the activities carried out in 2004. According to the speaker, a 2006-2008 medium-term expenditure program was prepared by the Secretariat in the period from January to February, which reflected its main tasks, goals, priorities, as well as the new projects shaped on the basis of the latest initiatives. Also, the Secretariat organized two meetings of BSC standing working groups in March in order to elect their heads on the basis of rotation.

Several other events were organized in the period under review, including the periodic updates of the Agency

April 2020