Armenia’s diamond-cutting industry’s output by 2020 expected to grow to $350-$400 million
25.11.2016,
18:37
Armenia’s diamond cutting industry’s output by 2020 is expected to grow to $350-$400 million a year, according to Gagik Mkrtchyan, an advisor to the Minister of Economic Development and Investment.
YEREVAN, November 25. /ARKA/. Armenia’s diamond cutting industry’s output by 2020 is expected to grow to $350-$400 million a year, according to Gagik Mkrtchyan, an advisor to the Minister of Economic Development and Investment.
Speaking a meeting of representatives of the jewelry industry today he said the ministry is developing a program to boost the sector in 2017-2020.
He said there are some operational problems, related largely to simplification of legislation after Armenia’s accession to the Eurasian Economic Union; in particular, the harmonization of laws.
"The expected results of the program - is achieving an annual commercial production worth $350-400 million per year by the end of 2020, and creation of six- seven thousand new jobs," - he said.
The meeting was attended by about 20 representatives of the jewelry industry, who spoke about their problems and ways to resolve them.
According to official data, diamond production in Armenia increased by 39.1% in 2015 to 14.58 billion drams ($30.4 million.). In the first ten months of 2016 it doubled to 24 billion drams ($50 million.). In the first six months of 2016 the export of polished Armenian diamonds amounted to 69,500 carats, a 2.3 times increase from the same time span of 2015. -0-
Speaking a meeting of representatives of the jewelry industry today he said the ministry is developing a program to boost the sector in 2017-2020.
He said there are some operational problems, related largely to simplification of legislation after Armenia’s accession to the Eurasian Economic Union; in particular, the harmonization of laws.
"The expected results of the program - is achieving an annual commercial production worth $350-400 million per year by the end of 2020, and creation of six- seven thousand new jobs," - he said.
The meeting was attended by about 20 representatives of the jewelry industry, who spoke about their problems and ways to resolve them.
According to official data, diamond production in Armenia increased by 39.1% in 2015 to 14.58 billion drams ($30.4 million.). In the first ten months of 2016 it doubled to 24 billion drams ($50 million.). In the first six months of 2016 the export of polished Armenian diamonds amounted to 69,500 carats, a 2.3 times increase from the same time span of 2015. -0-
