RA GOVERNMENT MUST SUPPORT DOMESTIC MANUFACTURERS UNDER GLOBAL ECONOMIC CRISIS
PanARMENIAN.Net
06.03.2009 18:17 GMT+04:00
/PanARMENIAN.Net/ "The National Assembly of Armenia must pass a Law
on Industry and set up a Ministry of Trade & Industry," the Head of
Armenian Manufacturers Union Vazgen Safaryan told a news conference
on Friday. "Under new CBA floating exchange rate policy and world
financial crisis the Government should take care of local manufacturers
and the Armenian industry."
"In the 1930-s, when the crisis hit America for the first time,
the US Government passed a law on Industry Restoration". Armenia is
in similar situation now, so to strengthen our industry we need to
create an investment fund in charge of import strategy, which will
help decrease the import volume ( AMD 4,4 billion in 2008). The
Armenian Government is already conducting negotiations with leaders
of industry and importers urging them to invest in local production,"
Safaryan said.