YEREVAN, October 31. / ARKA /. Vazgen Safaryan, chairman of a non-governmental organization uniting domestic commodity producers, argued today in favor of setting up a fund to support industrial development. He voiced the proposal during a meeting of the organization’s members with prime minister Tigran Sargsyan.
He said the 2013 budget has earmarked 300 million drams for export promotion. “We propose to supplement this amount, and create a fund, "Safaryan said, without specifying the amount which he thinks is necessary to establish the fund.
He said the Union of Domestic Commodity Producers will urge Armenian manufacturers to make contributions to the fund, which will boost cooperation between the state and the private sector in the field of industrial production.
Under the exported-oriented industrial policy strategy, approved by the government in 2011 December, the authorities expect industrial exports to triple in the next ten years. The strategy also calls for resumption of several dozens of idle enterprises a year.
According to the National Statistical Service, industrial exports in the first nine months of 2012 amounted to 512.1 million drams against 469.3 million drams in the same period of 2011. ($ 1 - 405.57 drams). -0-