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Official News

Saturday, 8 April 2017

Ministry of Economic Development and Investment, Ministry of Nature Protection report progress in implementation of priority tasks and planned actions

Chaired by Prime Minister Karen Karapetyan,, the Ministry of Economic Development and Investment and the Ministry of Nature Protection reported progress in the implementation of priorities and planned actions.

Minister of Economic Development and Investment Suren Karayan reported that 5 priority tasks and 18 planned actions were completed in 2017. Particularly in terms of attracting investment in 2017, they had drawn up a list of investment projects per companies and financial sources, a state support toolkit was provided.

Compared to the beginning of the year, 62 investment programs have been implemented instead of 53; 1800 jobs were made available in the first quarter, investments in the amount of USD 65 million were carried out.

It is intended to streamline the programs in 2018 and 2019 respectively according to the results achieved, sort them out by availability of jobs, investments, the size of the increase in turnover, etc.

Referring to regional projects, Suren Karayan said 11 projects had been approved, 4 of which were financed, while the rest are underway. Details were presented on the organization of investment funds’ activities.

Prime Minister Karen Karapetyan asked the Minister how many jobs are expected in 2017, and how much investment it may require.

The Minister noted that the approved projects alone are expected to create nearly 7,500 jobs with a total investment value of USD 460 million.

The Prime Minister stressed the importance of light industry development projects and told the Minister to conduct an analysis on the possibility of creating new jobs and attracting investment in this area. “If you keep working harder this year, at least 10,000 jobs will be created in light industry, without the said 7500 jobs and USD 460 million,” the Prime Minister emphasized.

Suren Karayan presented details on the process of creating a free economic zone with Iran, stating that the contract will be signed next week, and work has already begun on the implementation of the projects. The meeting next discussed the measures aimed at import substitution and other priorities of local production.

Artsvik Minasyan reported back the status of 8 priority tasks and 6 actions. Speaking of fish farms in Ararat Valley to automate the introduction of centralized management, the Minister reported that this year it is expected to reduce the volume of groundwater used currently from 1.6 billion cubic meters by 570 million cubic meters to 1.1 billion cubic meters of the statutory renewable level.

But the target is 800 million cubic meters in order to ensure more progressive recovery rates. This, according to the Minister, will necessitate for fisheries to restructure and change the permitting water supply applications in other areas.

The Prime Minister inquired about the activities carried out for environmental investment projects. Artsvik Minasyan reported that to date 25 projects have been submitted to the Ministry of Economic Development and Investment, including the Garni cable car project and the establishment of Jermuk national park.

Summing up the meeting, the Head of Government instructed the ministers and heads of departments to analyze the priorities, planned actions and investment plans for the first quarter.

“All ministries and agencies are expected to submit a 5-year program, with specific focus on 2017 in order to ensure that all preparatory work is carried out, and create a good basis for 2018,” the Premier said.

Coming to the instructions issued at the latest Cabinet sitting, Karen Karapetyan said that from next week on the ministries and departments shall be required to report on the activities of the 6-month period.

September 2021