Saturday, 1 October 2011
“Bridge Artsakh - 2011” Economic Forum Kicks Off
Prime Minister Tigran Sargsyan arrived today in the Nagorno-Karabakh Republic on a working visit. The head of government took part in the opening 3rd “Bridge Artsakh - 2011” economic forum as attended by NKR President Bako Sahakyan and business representatives from Armenia and Artsakh.
Referred to as “Advanced economy as a prerequisite for sovereign nationhood,” the forum focuses on ways to arouse interest in and attract investments from both Armenian and foreign businessmen.
Greeting those present, Tigran Sargsyan noted that the forum is getting traditional and added that additional efforts need making so that its attendance and coverage could grow in number and geography from year to year ensuring wider international exposure for NKR economy.
We can witness a clear shift in private investments at a global level: “We must be responsive to global developments. In this respect, both Armenia and Nagorno-Karabakh are obliged to tap on their competitive edge, involving extra investments from abroad next year,” the Premier said. In his opinion, both of the Armenian States should focus on revealing the existing internal potential. “Growth should rely on home resources, as well as on a corruption-free business-friendly environment. Unprecedented actions were implemented in 2010-2011. The President of Armenia is going to order by decree the introduction of a guillotine system against the bureaucratic red tape,” the head of government said.
Tigran Sargsyan underscored that the chief task of 2012 will be to expand the scope of public-private sector partnership in a bid to enhance the resistibility of the State. An atmosphere of trust should be shaped so that businessmen prove positive about making new investments.
Concerning the State budget exercise, the government was said strong with adequate revenue over the budget gap: “The projected 4.6% growth is widely met. According to the National Statistics Service of Armenia, we are within reach of the target, looking forward to completing the financial year with only 5% price rises that is supposed to considerably ease the inflationary pressure as compared to the last year’s index of 10%.”
The government is more cautious about the next year’s performance with its forecast of a 4 to 4.2% growth and 4% inflation: “We will be facing serious challenges in 2012 in terms of revenue collection as we plan to force the budget gap down to 3.1 % next year. We will have to ensure an AMD 101bn increase in tax and social receipts in order to provide for the projected extra welfare expenditures. A 10% rise is planned in pensions and welfare benefits, as well as in civil employee incomes.”
Noting that an industrial policy is in process of drafting, the Prime Minister said the strategy will cover those 12 sectors with serious potential of development: “They will be assessed on the current status and export capacity. Our industrial policy should have a single purpose, namely to boast export-eligible goods and services as the home market of Armenia is very small. We should offer a special tooling for enterprises in said 12 spheres, identifying new sales markets and development possibilities.”
Tigran Sargsyan did not rule out the possibility of a second wave of global crisis. Therefore, governments are supposed to implement decisive steps toward growth and stability.
This year’s edition of Artsakh Expo 2011 trade fair has kicked off on the sidelines of the forum, involving business organizations from Armenia and Artsakh.
Later on the head of government called at the State University of Artsakh to meet with faculty, students and to deliver a lecture.
