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ARMENIAN EXPERT EXPECTS LARGER INVESTMENTS IN MINING SECTOR THIS YEAR
YEREVAN, February 22. / ARKA /. Armenia's industrial output in 2012
surged by almost 9 percent from 2011 to 1.120.4 trillion drams, said
Vazgen Safarian, chairman of the Association of Domestic Manufacturers.
"This is a positive trend, but we expect serious investments this year,
especially in the mining industry,' he said at a news conference urging
the government to push for the construction of a copper smelting in
southern town of Kajaran,. According to his estimates, it will cost
$1.5 billion, which may come both from foreign and o local investors.
Safarian praised also the government-created strategy to boost
export-oriented industries.
"It will create a situation that will radically change the structure
of our economy and give it a new impetus. The fact that trade and
services account for a fairly large percentage of GDP is not normal
for our country, which once had an industry accounting for 67 percent
of its Gross Domestic Product, " he said, adding that today it is
somewhere near 20 %.
The export-oriented strategy commissioned by the World Bank was
developed by a group of experts with the assistance of the ministry of
economy and adopted by the government on December 15, 2011. It focuses
on building an advanced industrial system, aimed at boosting exports,
which in turn is supposed to stimulate production of high quality
products meeting international standards, to help Armenian companies
win new foreign markets and create new jobs. The strategy specifies
what the government seeks to achieve by 2020. More specifically,
exports are supposed to double by 2015 and reach $3 billion by 2020.
To implement this strategy the government will set up Industrial
Council to be chaired by the prime minister of Armenia, as well as
establish sub-councils to coordinate projects in 11 chosen sectors.
-0-
From: Emil Lazarian | Ararat NewsPress
YEREVAN, February 22. / ARKA /. Armenia's industrial output in 2012
surged by almost 9 percent from 2011 to 1.120.4 trillion drams, said
Vazgen Safarian, chairman of the Association of Domestic Manufacturers.
"This is a positive trend, but we expect serious investments this year,
especially in the mining industry,' he said at a news conference urging
the government to push for the construction of a copper smelting in
southern town of Kajaran,. According to his estimates, it will cost
$1.5 billion, which may come both from foreign and o local investors.
Safarian praised also the government-created strategy to boost
export-oriented industries.
"It will create a situation that will radically change the structure
of our economy and give it a new impetus. The fact that trade and
services account for a fairly large percentage of GDP is not normal
for our country, which once had an industry accounting for 67 percent
of its Gross Domestic Product, " he said, adding that today it is
somewhere near 20 %.
The export-oriented strategy commissioned by the World Bank was
developed by a group of experts with the assistance of the ministry of
economy and adopted by the government on December 15, 2011. It focuses
on building an advanced industrial system, aimed at boosting exports,
which in turn is supposed to stimulate production of high quality
products meeting international standards, to help Armenian companies
win new foreign markets and create new jobs. The strategy specifies
what the government seeks to achieve by 2020. More specifically,
exports are supposed to double by 2015 and reach $3 billion by 2020.
To implement this strategy the government will set up Industrial
Council to be chaired by the prime minister of Armenia, as well as
establish sub-councils to coordinate projects in 11 chosen sectors.
-0-
From: Emil Lazarian | Ararat NewsPress