5TH CONGRESS OF ARMENIAN BUSINESSMEN TO FOCUS ON JOINT ACTIONS AMID CRISIS

ARKA
May 13, 2009

YEREVAN, May 13. /ARKA/. Joint actions of the Government, business
community and public amid the crisis must be a key topic of the 5th
congress of Armenian businessmen, RA President Serzh Sargsyan stated
at the opening of the 5th congress of the Union of Manufacturers and
Businessmen (Employers) of Armenia (UMBA).

President Sargsyan pointed out that the congress is being held at
the time when the positions of UMBA members and representatives of
business community are of essential importance for the resolution of
economic problems facing Armenia.

In this context the President expressed hope that the participants in
the congress will address a winder range of issues than is normally
addressed.

"Topic number one must be joint measures by the Government, business
community and public amid the global financial and economic crisis,
which requires not only assessing the efficiency of measures, but
also outlining new ways of progress," Sargsyan said.

The President pointed out that so many representatives of the business
community and persons responsible for elaborating the economic policy
[participating in the congress implies active and constructive
discussions of the most topical issues.

During the congress, businessmen were informed of the problems of
the mining, IT and construction industries, as well as discussed the
general economic trends in the world and in Armenia.

The reporters also addressed the impact of the global crisis on
Armenia and ways out of the situation.

The businessmen discussed the reforms implemented by the Government
to temper the impact of the global crisis and proposed additional
legislative reforms for more favorable tax and customs environment,
which will not only promote business development, but also investments.

UMBA was founded on March 23, 1996. It held its last congress on March
30, 2005. UMB is an NGO uniting economic entities and lobbying for
their common interests. At present UMBA unites six territorial and
nine trade associations with about 1,000 members.