EBRD and Ernst & Young to conduct study on competitiveness of small and medium-sized companies in Armenia

YEREVAN, 16 October. /ARKA/. The Armenian Ministry of Economy in cooperation with the EBRD and with the assistance of Ernst & Young, an international audit and consultancy corporation, has initiated a study on the competitiveness of Armenia's small and medium-sized enterprises (SMEs).

‘The aim of the study is to uncover the growth potential and opportunities of SMEs, to outline the problems and challenges. The study will be concentrated around such areas of priority importance for the economy as food and beverage production, textile, clothing and leather goods production, ‘pharmaceutical, R&D and technological production, computer programming and consulting services,’ the Ministry of Economy said. 

By identifying critical growth factors and possible obstacles, the study is expected to contribute to the development of policies and assistance programmes to improve the sustainability and productivity of Armenia's SMEs and expand their export markets.

As a result, the feasibility of establishing an SME Competitiveness Centre will be considered. Its functions will include support for the sector, knowledge sharing and strategic development in response to the changing needs of SMEs. -0-