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In 2022, the rates of processing industry in Armenia essentially increased, the volume of production by 13.5% increased, making 1.8 trillion drams. Instead, the rates of mining decreased a little. We outlined by the Government programme and the Government programmes of measures to essentially increase the role of the processing industry in the gross domestic product (GDP), setting the target 15%: now we are near 12%. The RA Minister of Economy Vahan Kerobyan said about this at February 10 NA sitting.

The Minister presented in the first reading the draft law on Making Addendum to the law on Industrial Policy, which was worked out within the framework of the implementation of the RA Prime Minister’s assignment.

According to Vahan Kerobyan, it is designed by the initiative to authorize the Government to approve state assistance and support programmes on the main directions of the sphere within the framework of the state regulation of the implementation of the industrial policy.

Answering the deputies’ question, the Minister documented that in 2022, the volume of the investments increased by about 20%. It was noted that the Ministry of Economy with the support of the USAID revised and soon will submit for the Government approval the Investment policy strategy.

Speaking about the involvement of the foreign investments, Vahan Kerobyan noted that in that issue our primary target will be 500 leading companies, which entrance to Armenia will enliven the economy.

The member of the Standing (Head) Committee on Economic Affairs Narek Ghahramanyan presented the endorsement.

In their speeches the deputies highlighted the initiative presented by the Government, touched upon the development of industry in our country, the changes going on in the economy. In the extraordinary speech, the NA Vice President Hakob Arshakyan noted that this year more than 60% growth was registered in the sphere of high technologies. According to the rapporteur, dozens of Armenian companies received innovative grants within the framework of the state grant programmes. Hakob Arshakyan states that the Government doubled the financing of science, which in its turn will bring forth registration of new intellectual properties, on the basis of which new investments will come to our country.