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No Decline In Armenian Diamond-Cutting Industry In Armenia Expected

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  • No Decline In Armenian Diamond-Cutting Industry In Armenia Expected

    NO DECLINE IN ARMENIAN DIAMOND-CUTTING INDUSTRY IN ARMENIA EXPECTED

    news.am
    Dec 1 2009
    Armenia

    No decline in the Armenian diamond-cutting industry is expected this
    year, RA Minister of Economy Nerses Yeritsyan told reporters today. He
    pointed out that the industry's indicators will be specified at the
    end of this year. The Minister said that the development of Armenia's
    diamond-cutting industry requires management reforms, diversification
    of raw materials sources, and introduction of modern technologies in
    diamond-cutting plants.

    Minister Yeritsyan said that 2-3 per cent of cut diamonds produced
    in Armenia were used by the local jewelry industry for manufacturing
    end products. The rest were exported as raw materials. Jewelry and
    watch-making are diamond-using industries, and they must be developed
    for larger value-added taxes to be collected, Yeritsyan said. He
    pointed out that jeweller's art in Armenia has centuries-old traditions
    and can occupy a serious niche in the market. Shahe Aslanyan, co-owner
    of the Lori diamond-cutting company, said that Armenian diamonds sell
    well on the international market.

    Today, RA President Serzg Sargsyan visited the Lori diamond-cutting
    company to get acquainted with the problems of one of the most
    important industries in Armenia and discuss the ways of resolving
    them. The President was accompanied by RA Minister of Economy Nerses
    Yeritsyan, Kotayk Governor Kovalenko Shahgeldyan, the co-owners of
    the Lori company Shahe Aslanyan and Vardkes Knajyan.

    From: Emil Lazarian | Ararat NewsPress
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