SMB TO REMAIN IN SPOTLIGHT OF RA GOVERNMENT

PanARMENIAN.Net
May 18, 2010 – 17:14 AMT 12:14 GMT

Despite huge efforts of the Emergency Response Team under the RA
government in 2009 to assist the small and medium businesses (SMB)
under the conditions of the global economic crisis, the results are
not sufficient.

Armenian Prime Minister Tigran Sargsyan said that the problems of
small and medium businesses are in the spotlight of the RA government.

"We are not happy with the results, however, we will manage to achieve
the set goals through our own and public control," Sargsyan said
after a working discussion at Bio Kat company.

At the same time, he noted that the government’s activity should be
transparent, while programs of the Emergency Response Team should be
available on the government’s official website.

The Prime Minister added that the government is going to control the
results of its decisions and will be visiting those companies, to which
governmental assistance was provided. This time it was Bio Kat company.

Specifically, the company received governmental assistance at the
amount of AMD 120mln through MSB Investments UCO in October 2009,
due to which the company purchased modern equipment and expanded
its production.

"It means that our initiatives are implemented: new jobs are created,
the competitiveness is increased in the market. We have gained
positive results, but we also want to transfer these impulses to the
population," the Prime Minister noted.

Founder of Bio Kat company Hrachik Hakobyan said that the company’s
business plan submitted to the Emergency Response Team is being
implemented within set terms. The company produces around 20 types of
dairy products: eight classic and 12 dietary. Besides, according to
Hrachik Hakobyan, the company will offer new products to consumers –
ice-cream and yogurts starting from May 25.

He added that the number of employees have increased due to the new
industrial unit.