CHAIRMAN OF NATIONAL COMPETITIVENESS FUND BOARD OF TRUSTEES, RA PRIME MINISTER TIGRAN SARGSYAN ADDRESSED THE 13TH SESSION OF THE BOARD

Saturd ay, 14 November 2009

Chairman of National Competitiveness Fund Board of Trustees, RA Prime
Minister Tigran Sargsyan addressed the 13th session of the Board.

Board members were briefed on the outcome of RA government’s
anti-crisis efforts for 2009, those programs envisaged under FY 2010
State budget exercise, as well as on the Prime Minister’s impressions
of the Arm Tech – 2009 business forum. The head of government stated
in part:

"The concept of competition has been changed in the modern world. The
rules adopted by industrial societies can no longer work in
post-industrial competitive societies. Modern technologies can solve
many tasks, including social problems. By penetrating into the sphere
of social relationship, modern technologies are changing systems of
values in societies. This phenomenon should be the subject of serious
debates among us."

"Which is the right formula for ensuring a spasmodic development in
Armenia and rallying pan-Armenian organizations round it?" This is what
the Prime Minister proposed to discuss at the meeting. Tigran Sargsyan
evoked an idea voiced during the proceedings of the Arm Tech – 2009
congress, which reads as follows: "Today is the past, and the future
is tomorrow." "This makes us work faster and harder as the concept
of the Armenian world needs some refreshing," the Prime Minister said.

The meeting went on to discuss the agenda focusing on domestic and
worldwide economic development-related issues.

Irish National University professors Bob Kitchin and Mark Boyle,
as well as Munich-based sport and tourism experts Peter Gothwald
and Franck Daniel Ehrsam outlined such strategies as might be used
in cooperating with the Diaspora, as well as the possibilities for
turning into a new tourism product those sports events that can be
practiced in the highlands of Sevan region.

Other agenda items were the planning of design work for the
pan-Armenian network and the reporting on Pan-Armenian Bank’s program,
as well as an array of issues of current interest to the Fund.