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Friday, 20 September 2019

Tigran Avinyan Attends EU-Armenia SME Fund Launching Ceremony

On September 20, 2019, Deputy Prime Minister Tigran Avinyan attended a ceremony, which marked the launch of the EU-Armenia SME Fund.

In his greeting remarks, the Deputy Prime Minister noted:

“Dear Mr. Prime Minister,
Madame Mathernova,
Dear Guests,
Ladies and Gentlemen,

I am glad to welcome you at the launch of a joint initiative of the European Union, the European Bank for Reconstruction and Development and Amber Capital.

At this crucial time for Armenia and the time of fundamental changes, the newly created EU-Armenia Small and Medium Enterprises Fund will make a significant contribution to the progressive development of the economy.

The velvet revolution that took place last year was the best opportunity to reassess the possibilities of a creative citizen for more active economic behavior.

In the conditions of exceptional competitive opportunities and free access to the market, many began to consider business prospects.

New realities are an opportunity to realize their own ideas, carefully stored ideas and business initiatives. Today we are already witnessing a number of new entrepreneurial ideas that are looking for appropriate opportunities and platforms for implementation. Including this fact determines the relevance of this initiative.

Dear Participants,

The Armenian government has embarked on the path of building an innovative and inclusive economy, and the development of small and medium-sized enterprises is especially important for this. In the modern world, this is one of the key prerequisites for the reconstruction and development of national economies.

SMEs stimulate the development of private property and entrepreneurial skills, are flexible in a changing market economy, help diversify economic activity and can make a significant contribution to international trade, export promotion and, of course, job creation. The result is sustained inclusive growth.

Our studies show that the availability of capital is key to the development of SMEs. At the same time, it is obvious that the availability of financial resources in itself is not a sufficient condition for the development, establishment and growth of SMEs.

Introducing the best corporate governance practices, increasing transparency, improving the management of production and supply chains of companies, meeting growing demand in the financial markets and providing access to new markets - these are the necessary conditions for ensuring the sustainable development of companies, and this is why the newly created fund is unique.

Dear Colleagues,

I would like to thank our European partners for supporting the SME sector in Armenia through various tools and formats for many years.

I wish you all successful and fruitful work in the framework of this important initiative for all of us.

Thank you.”

November 2020