Armenian government to allocate about 14 billion drams for textile industry development

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02.02.2023, 14:24

The Armenian government has approved today the release of about AMD 14 billion for the development of textile industry.

Armenian government to allocate about 14 billion drams for textile industry development

YEREVAN, February 2. /ARKA/. The Armenian government has approved today the release of about AMD 14 billion for the development of textile industry.

Deputy Economy Minister Rafael Gevorgyan presented a draft strategy and an action plan for textile industry designed for 2023-2026.

The strategy envisages three key directions of activities: development of human capital and capabilities, improvement and streamlining production capabilities and boosting exports.

He said the focus will be on improvement of production capabilities as a result of which the production efficiency is expected to almost double, which is expected in turn to produce a surge in exports up to $500 million ( over $200 million in 2022). ($1 - 395.74 drams). --0--

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