ArmInfo. The Armenian government is preparing conceptual documents on the development of industry, investment environment, IT, science and education. This was stated on November 13 by Minister of Economy of Armenia Tigran Khachatryan during a government hour in parliament, answering a question by the head of the National Assembly's Economic Affairs Commission Babken Tunyan about whether the Cabinet of Ministers intends to give practical application to the document entitled "Industry Development Strategy of Armenia" prepared by experts of the Asian Development Bank, on which about $ 300 thousand was allocated
According to Khachatryan, he was not informed about the amount allocated for the document. But, according to the Minister, he does not think that the matter concerns a similar amount. The title of the document, as the head of the Ministry of Economy noted, also does not coincide with the real one. This is not an industry development strategy, but an advice to the RA government on what a development strategy might be, he explained.
At the same time, according to the Minister, the government intends to take advantage of the activities of not only ADB experts, but also UNCTAD (UN Conference on Trade and Development), which conducted a study of the investment environment. According to the Minister, by comparing the above documents and on their basis, a strategy will be prepared for the development of industry, investment environment, IT, science and education.
Back in April of this year ArmInfo reported that the expert group of the United Nations Conference on Trade and Development (UNCTAD) carried out a mission from March 27 to April 6 to revise the investment policy in a strategic direction called "How to attract investment aimed at export and improvement of efficiency?". The report for Armenia will be prepared free of charge. As noted in the Ministry of Economy, large countries when drawing up their own reports on the investment environment of third countries are based on the organization's report. UNCTAD also has tools for simplified assistance in implementing the proposed reforms. "According to statistics those countries that have implemented the proposals voiced in the UNCTAD report at an appropriate level, recorded an almost 3-fold increase in attracting foreign investment over the next 5 years after the publication of the report. During 2016-2017, when 23% recession of cross-border investments was recorded, these countries provided a 29% increase in foreign investment, "the ministry noted.