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GEM AND JEWELRY MAKING DEVELOPMENT AGENCY TO BE CREATED IN FEBRUARY
YEREVAN, FEBRUARY 1, NOYAN TAPAN. It is envisaged that in February the
Armenian government will make a decision on creation of the Gem and
Jewelry Making Development Agency adjunct to the RA Ministry of Trade
and Economic Development. Gagik Mrkrtchian, Head of the Gem and
Jewelry Department of the ministry, stated this.
According to him, the agency will implement the 2005-2007 program on
Armenia's gem and jewelry sector, which will help overcome the
two-year-long crisis in the sector. G. Mkrtchian noted that the agency
will first of all deal with the problem of legislative reforms. In
his opinion, the experience of the the United Arab Emirates where
considerable progress in the gem sector has been registered in the
past 5 years can be used in Armenia. "The matter concerns developing
the gem and jewelry sector by sharply increasing investments through
certain tax and customs reforms," he said.
According to him, the sector's development in the UAE was also
encouraged by creation of free trade zones, which, in the words of F.
Mkrtchian, "is used by all countries that have a developed wholesale
market of rough and cut diamnonds." The formation of such conditions
is first of all conducive to development of small and medium
enterprises of the sector.
"Under favorable conditions 200-300 enterprises will be set up against
the current 30 licensed diamond cutting enterprises," G. Mkrtchian
noted, adding that there are many jewelry enterprises in Armenia, most
of which are small and medium ones. According to him, the number of
gem and jewelry enterprises in the UAE reaches a thousand.
The ministry official said that in late 2005, Armenia's gem and
jewelry sector employed 4,550 people. In 2006, this number declined by
600.
YEREVAN, FEBRUARY 1, NOYAN TAPAN. It is envisaged that in February the
Armenian government will make a decision on creation of the Gem and
Jewelry Making Development Agency adjunct to the RA Ministry of Trade
and Economic Development. Gagik Mrkrtchian, Head of the Gem and
Jewelry Department of the ministry, stated this.
According to him, the agency will implement the 2005-2007 program on
Armenia's gem and jewelry sector, which will help overcome the
two-year-long crisis in the sector. G. Mkrtchian noted that the agency
will first of all deal with the problem of legislative reforms. In
his opinion, the experience of the the United Arab Emirates where
considerable progress in the gem sector has been registered in the
past 5 years can be used in Armenia. "The matter concerns developing
the gem and jewelry sector by sharply increasing investments through
certain tax and customs reforms," he said.
According to him, the sector's development in the UAE was also
encouraged by creation of free trade zones, which, in the words of F.
Mkrtchian, "is used by all countries that have a developed wholesale
market of rough and cut diamnonds." The formation of such conditions
is first of all conducive to development of small and medium
enterprises of the sector.
"Under favorable conditions 200-300 enterprises will be set up against
the current 30 licensed diamond cutting enterprises," G. Mkrtchian
noted, adding that there are many jewelry enterprises in Armenia, most
of which are small and medium ones. According to him, the number of
gem and jewelry enterprises in the UAE reaches a thousand.
The ministry official said that in late 2005, Armenia's gem and
jewelry sector employed 4,550 people. In 2006, this number declined by
600.