At a conference in Vanadzor tasked with bring together entrepreneurs and government officials in a joint effort to spur new business in Armenia’s northern Lori Province, Armenian Prime Minister Nikol Pashinyan declared that he was confident that a country and people who achieved a political miracle could do the same for the economy.

By miracle, Pashinyan was referring to the ‘velvet revolution’ in the spring of 2018.

“Achieving an economic revolution is our most important priority, but we must understand its parameters. These include new jobs, a new level of revenue and wellbeing,” Pashinyan addressed the crowd of local and foreign investors.

Pashinyan said his government is willing to support individuals who want to create jobs and businesses in Armenia, adding that such support would be both in word and deed.

“Yes, in word as well. Sadly, in our reality, the significance of the word is undervalued. As the first nation to accept Christianity, we must note that in the beginning was the word. Everything begins with words and thoughts,” said Pashinyan, adding that specific practical steps would also be taken to spur business in Lori.

In 2016, Lori Province, with a 35.8% poverty rate, only follows Shirak Province with a poverty rate of 45.5%. With the suspension of operations at the Teghout Mine and the Alaverdi Copper Smelter, the employment picture in Lori hasn’t improved since.

When it came to details regarding practical steps his government planned to take, Pashinyan only mentioned legislative reforms and anti-corruption measures.

“Every citizen in Armenia must carry out an economic revolution. Each person must, by their actions, shut down the streets where poverty and wretchedness roam,” Pashinyan declared at the conference.

The prime minister called on individuals and business people with doukh (moxie/guts), the catchword of the ‘velvet revolution’), to step up to the plate and make a difference.

“I know that they are successful businessmen in Armenia. A real economic revolution is the work of people with doukh, who believe in their ideas, talent and strength,” Pashinyan said, exclaiming that the new slogan for Armenia’s revolution would be, “Enough of sitting down. Let’s get up and walk”.

More than fifty prospective business plans to spur tourism, agriculture, manufacturing, IT and other sectors of Lori’s economy were presented at the conference.

Pashinyan toured an exhibit showcasing the items produced by some forty companies operating in the region.

The business conference was organized by the Ministry of Territorial Governance and Development with the support of Armenia’s Small and Medium Entrepreneurship Development National Center Fund.

Similar business conferences will be held in the country’s other provinces in 2019.