Investments of AMD 964 million attracted under small and medium business investments CJSC’s programs

14.10.2011 19:28
Investments of AMD 964 million attracted under small and medium business investments CJSC’s programs

YEREVAN, October 14. /ARKA/. Armenian Economy Minister Tigran Davtyan, speaking Friday at the First Global Armagroforum, said investments totaling AMD 964 million had been attracted under Small and Medium Business Investments CJSC’s programs.

“The government takes consistent steps to spur development of small and mid-scale businesses,” he said. “Small and Medium Business Investments credit organization was established in 2009 to support small and medium businesses. AMD 964 million has been invested since then.”

According to ARKA News Agency’s data, the organization’s assets totaled AMD 2.8 billion in late June 2011 and liabilities AMD 1.5 billion. Its capital amounted to AMD 1.3 billion. The organization’s net profit for the first half of this year amounts to AMD 154 million.

Davtyan also said that investment programs worth 7 billion have been implemented thanks to the funds attracted from banks and those worth AMD 14 billion were implemented thanks to the funds allocated by the government.

He said that agriculture has always been among Armenian economy’s most important sectors and the government pays special attention to it.

The minister said that this year agriculture started growing.

In his words, the economy ministry now concentrates efforts on creating a free economic zone in Zvartnots Airport. Davtyan said that this zone would give Armenia wider room for export.

“A strategy of detection and development of Armenia’s export capacity, including agriculture, is being worked out now,” he said.

The First Global Armagroforum is being held in Yerevan as part of celebration of the 20th anniversary of Armenia’s independence. It will last until October 16.

Some 1,000 representatives of agriculture sectors from Armenia and outside are taking part in the event. Of them, 700 represent farms and processing enterprises from Armenia’s provinces.

Some 40 farmers from Russia, Ukraine, Georgia, Lebanon, Iran, Poland, Latvia, the United States and France are attending the forum. A delegation from Nagorno-Karabakh Republic came here as well. ($1 = AMD 379.23) -0-


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