Armenia is focusing on a high-value-added economy and will create five industrial zones: Finance Minister
25.06.2026,
11:36
The Armenian government intends to accelerate the transition to a high-value-added economy, develop high-tech industries, and create five industrial zones in the country's regions, announced Finance Minister Vahe Hovhannisyan.
ALMATY, June 25. /ARKA/. The Armenian government intends to accelerate the transition to a high-value-added economy, develop high-tech industries, and create five industrial zones in the country's regions, announced Finance Minister Vahe Hovhannisyan.
"We are purposefully moving away from the raw materials export model. Our absolute priority is an economy with high value-added processes and complex knowledge-intensive services," Hovhannisyan said in Almaty at a business forum dedicated to the 20th anniversary of the Eurasian Development Bank (EDB).
According to him, the rapid modernization of the private sector, supported by the state, has created a solid foundation for this transition.
He stated that the government's key task is the qualitative transformation of economic growth. This entails diversifying the economy, developing high-tech industries, and strengthening the country's economic self-sufficiency.
The minister noted that to realize this potential, Armenia is focusing on developing transport infrastructure and logistics. In this context, he pointed to the "Crossroads of Peace" project, aimed at opening new, safe, and transparent transport routes in the South Caucasus.
According to Hovhannisyan, the project is already yielding practical results: transit shipments of strategic cargo, including wheat, have begun by rail from Russia and Kazakhstan through Azerbaijan and Georgia to Armenia.
He also announced that construction of the North-South highway corridor is ongoing, and a $500 million investment expansion program for Zvartnots International Airport has been launched.
The minister also identified the launch of five industrial zones in various regions of Armenia where the necessary infrastructure has been preserved since Soviet times as another priority. He stated that the authorities are already working with operators and investors on this matter.
ARKA News Agency is the media partner of the business forum.
"We are purposefully moving away from the raw materials export model. Our absolute priority is an economy with high value-added processes and complex knowledge-intensive services," Hovhannisyan said in Almaty at a business forum dedicated to the 20th anniversary of the Eurasian Development Bank (EDB).
According to him, the rapid modernization of the private sector, supported by the state, has created a solid foundation for this transition.
He stated that the government's key task is the qualitative transformation of economic growth. This entails diversifying the economy, developing high-tech industries, and strengthening the country's economic self-sufficiency.
The minister noted that to realize this potential, Armenia is focusing on developing transport infrastructure and logistics. In this context, he pointed to the "Crossroads of Peace" project, aimed at opening new, safe, and transparent transport routes in the South Caucasus.
According to Hovhannisyan, the project is already yielding practical results: transit shipments of strategic cargo, including wheat, have begun by rail from Russia and Kazakhstan through Azerbaijan and Georgia to Armenia.
He also announced that construction of the North-South highway corridor is ongoing, and a $500 million investment expansion program for Zvartnots International Airport has been launched.
The minister also identified the launch of five industrial zones in various regions of Armenia where the necessary infrastructure has been preserved since Soviet times as another priority. He stated that the authorities are already working with operators and investors on this matter.
ARKA News Agency is the media partner of the business forum.
