CONSTRUCTION, MINING AND AGRICULTURE ARE THE THREE KEY SECTORS OF ARMENIAN ECONOMY: FINANCE MINISTER
ARKA
Sep 29, 2009
YEREVAN, September 29, /ARKA/. Armenian Finance Minister Tigran
Davtian said today construction, mining and agriculture were the
three key sectors of Armenian economy. Speaking at a news conference
the minister said these three sectors have the biggest development
potential consuming the bulk of foreign investments.
The minister then singled out the mining sector as the driving force
of the Armenian industry, saying if prices of raw commodities grow
it may become the axis of the economic recovery. According to him,
this sector is attractive for foreign investors and although Armenia
does not have oil or natural gas resources, it boasts of rich metal
reserves.
According to minister, construction sector that suffered the biggest
decline over 50% this year is able to quickly recover. "But I am
against it being the sole guarantor of economic development. Our
economy should be diversified,’ he said.
"Regardless of future developments, these three sectors will have
the biggest growth potential,’ Tigran Davtian said.
He also pointed out IT, diamond cutting and energy sectors as
guarantees of Armenia’s economic recovery, because ‘long-term
investments in these sectors are justified bringing profits.’ Regarding
other sectors of economy, the minister said there are many questions
and it is not clear how they should be developed.