Aganbekyan: SME development, housing construction and import substitution to lead crisis-overcoming in CIS
26.05.2009,
23:21
Development of small and medium enterprises (SME), housing construction and import substitution are the locomotive power in overcoming the crisis in CIS countries, rector of the government-headed academy of national economy of Russia academician Abel Agan
YEREVAN, May 26. /ARKA/. Development of small and medium enterprises (SME), housing construction and import substitution are the locomotive power in overcoming the crisis in CIS countries, rector of the government-headed academy of national economy of Russia academician Abel Aganbekyan said.
“The crisis gives certain chance to every country, every enterprise and every man. The strongest survives the crisis. One can get stronger while coming out of the crisis, but he should be able to use the opportunities for this,” academician said in his videomessage to participants of the international economic conference on Armenia and its countermeasures against total catastrophe. The conference was held in Yerevan.
Small business leads to a precipitous reduction in unemployment, to growing prosperity and additional increase in output, as well as to innovations, Aganbekyan said.
According to him, the other locomotive is housing construction with use of mortgage and cheap loans.
Housing construction has a great multiplicative effect and its development in all possible ways under crisis conditions promotes the economy and gives a way out from the crisis, he said.
As to import substitution, the academician gave the example of Russia where imports “have gone” from many fields and niches available have been then taken up by domestic producers.
“But the important is not only take up the niche, but hold it when imports rushes into the country again,” Aganbekyan said. In this respect, many countries need diversifying their exports, he added.
He stressed the need to export not only raw materials, but mainly ready products with high added value – innovative products first of all.
“When national currency is devaluated and exporters start getting extra profit, conditions can be created under crisis to develop export of ready products at a high speed for better development of innovations,” Aganbekyan said.
Aganbekyan also said that many people enhance their qualifications and acquire new knowledge during crisis.
“Investments in human intellect and knowledge are the most profitable application of means. People work better under crisis and if this spirit is further maintained – we all will gain,” Aganbekyan said. –0—
“The crisis gives certain chance to every country, every enterprise and every man. The strongest survives the crisis. One can get stronger while coming out of the crisis, but he should be able to use the opportunities for this,” academician said in his videomessage to participants of the international economic conference on Armenia and its countermeasures against total catastrophe. The conference was held in Yerevan.
Small business leads to a precipitous reduction in unemployment, to growing prosperity and additional increase in output, as well as to innovations, Aganbekyan said.
According to him, the other locomotive is housing construction with use of mortgage and cheap loans.
Housing construction has a great multiplicative effect and its development in all possible ways under crisis conditions promotes the economy and gives a way out from the crisis, he said.
As to import substitution, the academician gave the example of Russia where imports “have gone” from many fields and niches available have been then taken up by domestic producers.
“But the important is not only take up the niche, but hold it when imports rushes into the country again,” Aganbekyan said. In this respect, many countries need diversifying their exports, he added.
He stressed the need to export not only raw materials, but mainly ready products with high added value – innovative products first of all.
“When national currency is devaluated and exporters start getting extra profit, conditions can be created under crisis to develop export of ready products at a high speed for better development of innovations,” Aganbekyan said.
Aganbekyan also said that many people enhance their qualifications and acquire new knowledge during crisis.
“Investments in human intellect and knowledge are the most profitable application of means. People work better under crisis and if this spirit is further maintained – we all will gain,” Aganbekyan said. –0—
