YEREVAN (A.W.)—The Armenian government has approved a series of projects that will help create hundreds of new job opportunities for the locals. Armenian Minister of Territorial Administration and Development and member of the Armenian Revolutionary Federation (ARF) Supreme Council Davit Lokyan discussed the progress of the work that, according to him, has been taking place in the last two and a half months.
During a press conference on Jan. 6, Lokyan explained that 34 billion drams (AMD) is already available for the implementation of the projects, while a further 100 billion drams is expected to be raised by investors. Lokyan explained that the country’s GDP is disproportionately centered in Yerevan. “The general logic of the government is to get acquainted with the potential in different provinces—whether they be natural resources, manufacturing, or human capital—and to suggest projects accordingly,” Lokyan said.
Lokyan explained that statements about Armenia having weak potential are untrue, since the government has received about $3.2 million (USD) to finance various projects in Yerevan and in other provinces in the last three months.
Lokyan said that after visiting various provinces throughout the country, the Armenian Government has asked for various business owners to present potential ideas of programs. As a result, 132 programs were presented.
The programs are transferred to the Ministries of Agriculture and Economic Development and Investment, and are also sent to the Central Bank of Armenia. Then the Minister of Territorial Administration and Development presents the programs to a committee comprised of the Prime Minister, the Deputy Prime Minister, the Minister of Finance, a representative from the Central Bank, and the Minister of Economy.
The Central Bank also has a specific team whose responsibility is to study the feasibility of the program and its effectiveness. Lokyan explained that the goal is for businesses to have low interest rates, to have the support of the government, and to have simple contract conditions.
“After 44 presentations being completed in five provinces, 34 of them have received positive feedback,” said Lokyan. He also discussed that the close to 500 jobs that will be created will have above average salaries. One of the projects that will lead to more jobs is the creation of the first solar power plant in Armenia that was made possible through a million-dollar investment.
Lokyan could not provide an exact number of job sites to receive investments, though he said that one jobsite requires a $5,000 investment. He said that the government is committed to a strategy to provide 56,000 jobs by the year 2025. “It is time for us to devote all our energy to economic growth. No country can be happy without economic growth,” said Lokyan.
It’s about time to focus on the broader economy! The new Prime Minister is the best politician since the independence of Armenia. Let’s mobilize and help him take the country forward.