The economic crisis has shown how vulnerable the Armenian economy is. The country is extremely dependent on imports of metals and capital; its GDP is not diversified. The special correspondent of the "VestnikKavkaza" news agency discussed the state of the Armenian economy with the Chairman of the Armenian Union of Industrialists and Entrepreneurs, Gagik Makaryan.
- It is often said in Armenia today that small and medium-sized
enterprises should be supported and developed. How is this task being fulfilled?
- Several years ago the National Agency for the Development of Small and Medium-sized Businesses was established in the framework of the Armenian Ministry of Economy. This Agency undertakes special measures
to support small and medium-sized enterprises, for instance, it provides entrepreneurs with preferential credits.
The "Busness Advisory Services" center is another institution that supports the development of small and medium-sized businesses. The center was established by the European Bank for Reconstruction and Development and also provides financing and other kinds of support.
- In the last several years the growth in GDP has been achieved only due to building and transfers. What should be done to alter the structure of GDP?
- It's quite certain that other spheres of he economy should also be developed. In the Soviet past, all spheres of the economy were successfully developing in the country: the chemical industry, light industry, heavy industry. Nowadays the situation is quite different. The economy should definitely be diversified.
- Which production sectors have the best potential and should be developed?
- The most promising sector of production is the food industry. Armenia has all necessary resources to develop this sphere of production. In addition to this, electro-technology, the production of building materials and textiles seem to be rather promising.
