Saturday, 2 November 2013
ANCF Board of Trustees Discuss Economic Development Trends In Armenia
Chaired by Prime Minister Tigran Sargsyan, the Government Office hosted a regular meeting of Armenia National Competitiveness Fund Board of Trustees (ANCF).
Once the agenda was approved, Tigran Sargsyan referred to this year’s main economic indicators. He advised that a strong growth had been recorded in mining and processing industries, as well as in the agricultural sector with sizeable State assistance and an array of private investment-supported programs.
“Encouraging is that the quality of the manufacturing industry has improved to the benefit of exports. This is evidencing that our public-private sector cooperation strategy is taking effect,” Tigran Sargsyan said.
Talking about the causes behind the low level of economic activity, the Prime Minister stated in part, “At this point, construction is the greatest challenge to economic growth. Statistics show 8.5-percent decline in the first eight months of 2013, while the share of construction in GDP amounts to 12 per cent. Construction will be our primary focus in 2014: we are developing a program to boost investment in this field mediating mortgages and affordable housing facilities".
Among many other growth-oriented and business-friendly programs scheduled for 2014, the Premier singled out the liberalization of air services, the creation of a venture fund, the activities of the export insurance company, the Industrial Fund and the National Center for SME Development.
Noting that according to the Doing Business-2014 annual report, published by the World Bank and the International Finance Corporation (IFC), Armenia has moved up 3 points to the 37th position, and the measures aimed at improving the business environment will be continued ahead.
The head of government next presented the government’s new welfare policy toward overcoming poverty and the ongoing pension reform.
In conclusion, the meeting discussed and approved the minutes of the previous meeting, the annual program and the 2014 budget of the ANCF. Reference was also made to the Fund’s international cooperation and future programs.
