YEREVAN, June 6. /ARKA/. Money transfers are very important for Armenia, Armenian Prime Minister Tigran Sargsyan said at a news conference in Brussels.
The press office of the Armenian government quoted him as saying that 3 million people live in Armenia, and 6 million Armenians living abroad transfer money to Armenia.
“These are those who had left the country in the last two decades, and 95% of old immigrants have never been in Armenia, and this is a potential which can spur economic growth in Armenia.”
Although they have never traveled to Armenia, they live in Armenian world, have own parties, Armenian schools and churches.

“We have developed a new strategy of utilization of this potential,” the premier said. “The Ministry of Diaspora was established in Armenian for the first time on President Serzh Sargsyan’s initiative. Thanks to that we are implementing nationwide programs. We have dozens of nationwide organizations, unions of architects, doctors and lawyers, which implement programs aimed at developing Armenia.”

He also said that the National Competitiveness Council had been established in Armenia, which involved individual entrepreneurs from Armenian communities worldwide who doing successful business in other countries.

“The aim of the council is to implement programs which use Armenia’s potential, will make our country competitive and attract investments,” Sargsyan said. “We must improve business environment in Armenia.”

According to the Central Bank of Armenia, more than $277.2 million was transferred to individuals in Armenia in the first quarter of this year for noncommercial purposes – 10.3% year-on-year growth. -0---