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Official News

Tuesday, 9 November 2004

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 commissions given at previous meetings, the progress in ADA reforms, as well as the implementation of the 2005 paln of action and other issues.

With reference to agenda item 1, Mr. Vahagn Movsisyan, Director General of ADA, reported that most of the tasks set at the latest meeting had been complied with. In particular, the members of the Board had been provided with detailed information on the activities aimed at investment promotion and export development, the services delivered to prospective investors, the shows and business forums held. It was mentioned that the film advertising ADA's activities in Armenia and abroad was nearing completion. In compliance of other commissions, the 2004 ADA program of activities had been submitted for Board consideration, and AMD19mln had been allocated to the ADA in addition to the funds available from the the Ministry of Finance and Economy as co-financing under the Foreign Investment and Export Promotion Program.

Concerning ADA's policy with regard to human resource management issues, Mr. Vahagn Movsisyan reported that recruitment was being carried out on a competitive basis with a follow-up training provided to staff members. Among other improvements, the Director General mentioned the renewal of the official website of the company and numerous targeted publications made. Mr. Movsisyan suggested to set up foreign missions in order to boost investment and export. The proposal was received with understanding though it was mentioned that a number of financial and institutional issues had to be clarified yet.

The meeting also discussed the 2005 ADA program of activities, the list of measures and the budget under this program. Prime Minister A. Margaryan suggested to put off the matter till the next meeting in order to submit the budget annexes to the Ministry of Finance and Economy and, upon receipt of its findings within a 2-week period, to approve at the meeting of ADA Board.

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