Armenia's SMEs account now for 25-26% of GDP
20.12.2019,
15:34
Armenia's small and medium-sized businesses account now for 25-26% of GDP, Deputy Economy Minister Naira Margaryan told reporters on Friday.
YEREVAN, December 20. /ARKA/. Armenia's small and medium-sized businesses account now for 25-26% of GDP, Deputy Economy Minister Naira Margaryan told reporters on Friday. According to her, this indicator shows a relative stability growing in parallel with GDP growth.
She said also out of 68,500 registered SMEs about 70% are in the capital Yerevan. According to statistics, the most active regions in terms of SME development after Yerevan are Lori, Kotayk and Ararat provinces, and the most passive are Vayots Dzor and Aragatsotn.
The bulk of SMEs choose to engage in trade. In the provinces, they choose agricultural processing, communications and construction.
Naira Margaryan said also that the government is developing a strategy for SMEs for 2020-2024 that will place the focus on increasing their productivity, making available financial resources, education, investment. The strategy will also introduce new tools to increase their competitiveness and market accessibility.
"In 2019, we launched an educational platform for SMEs, which describes in detail all the procedures and steps required for starting a business. We also offer programs to promote start-ups which are provided with credit guarantees and opportunities to exchange experiences and seek grants," said Margaryan.
She also said within the framework of the Enterprise Europe Network, the world's largest support network for Small and Medium-sized Enterprises, Armenian businessmen have the opportunity not only to look for raw materials, but also to offer their own products. Also, according to her, a cluster center for the development of the textile industry was created in Armenia. --0--
She said also out of 68,500 registered SMEs about 70% are in the capital Yerevan. According to statistics, the most active regions in terms of SME development after Yerevan are Lori, Kotayk and Ararat provinces, and the most passive are Vayots Dzor and Aragatsotn.
The bulk of SMEs choose to engage in trade. In the provinces, they choose agricultural processing, communications and construction.
Naira Margaryan said also that the government is developing a strategy for SMEs for 2020-2024 that will place the focus on increasing their productivity, making available financial resources, education, investment. The strategy will also introduce new tools to increase their competitiveness and market accessibility.
"In 2019, we launched an educational platform for SMEs, which describes in detail all the procedures and steps required for starting a business. We also offer programs to promote start-ups which are provided with credit guarantees and opportunities to exchange experiences and seek grants," said Margaryan.
She also said within the framework of the Enterprise Europe Network, the world's largest support network for Small and Medium-sized Enterprises, Armenian businessmen have the opportunity not only to look for raw materials, but also to offer their own products. Also, according to her, a cluster center for the development of the textile industry was created in Armenia. --0--
