Tuesday, 24 July 2012
Industry Board Holds Meeting
Chaired by Prime Minister Tigran Sargsyan, the Industry Board by the Prime Minister held a regular sitting at the Office of Government, involving heads of government agencies, MPs and private sector representatives.
Minister of Economy Tigran Davtyan reported back work done under the government’s export-oriented industrial strategy covering structural, investment, institutional and financial assistance programs. Industry was said to have posted a good dynamics of development in the first half of 2012, with AMD 501.4 billion worth of output produced by Armenian manufacturers, 13% up as compared to 2011.
Tigran Davtyan said the government keeps on providing State support to manufacturing companies through a series of instruments.
In particular, 8 investment programs to a total cost of AMD 17.5bn have been granted a VAT holiday since the start of 2012. As a result, the government expects to get additional 340 new jobs.
In January-June, 2012, extended “temporary import” customs regime was applied to 5 import projects to a total cost of AMD 1.3 billion. In the meantime, SME Investment UCO carried out 21 lending programs to finance a set of investment projects.
Down to organizational activities, the Minister of Economy advised that sector boards have already been established in the fields of brandy production, pharmaceuticals and biotechnologies, consisting of representatives of the Ministry of Economy, Armenian Development Agency and the private sector. Work is underway toward developing a strategy and a program of action in the jewelry sector. The meeting took note of the Minister’s report.
The council approved a draft program of action in pharmaceuticals and biotechnologies for 2012-2015. The following strategic areas are highlighted: quality control system launch, local resource management, capacity building, extending financial support, involvement of transnational corporations and sales promotion.
The meeting next endorsed a draft brandy-making development action plan for 2012-2015. Developed in the wake of consecutive debates held between stakeholders and ministry representatives, the program identifies the following priority areas of activity: quality assurance, capacity building and market development.
After views had been exchanged on the expediency of developing a unified brandy-making strategy and a single action plan for the development of brandy- and wine-making sectors, Prime Minister Tigran Sargsyan instructed to take note of the proposals made by the stakeholders and amend the document, if necessary.
In conclusion, the council looked at the proposal to develop an export-oriented industrial policy for light industry.
Considering the comments and opinions voiced at the meeting, the Prime Minister told the parties concerned to submit a draft concept of export-oriented light industry policy by late October, 2012.
