ARMENIA NEEDS WESTERN BUSINESS CULTURE, SAYS PM
By M. Alkhazashvili, translated by Diana Dundua

Messenger.ge
Georgia
Tuesday, September 18, 2007, #177 (1444)

Armenian Prime Minister Serzh Sarkisian said his government has two
tasks to sustain the country’s eight to ten percent economic growth:
crafting well-planned economic programs, and implementing modern
management practices.

Sarkisian said better business planning is necessary, reports the
news agency Regnum, rather than merely acquiring more financial
resources. Improvements in education alone aren’t enough to bring
quality business management to Armenia, Sarkisian continued; large
foreign corporations, and their Western business culture, must be
drawn to Armenia.

However, the Armenian prime minister added that small- and medium-sized
businesses are vital to his country’s economy, accounting for 60
percent of the GDP and taking 80 percent of investment money. They
need to be supported in development, he said, and given guarantees
that their investments and long-term planning will be safe and stable
in Armenia.