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Inga Martinyan

Economic Competitiveness a Collaborative Effort

Bekor Papazyan, Director of Armenia’s National Competitiveness Fund, pointed to the monopolized and oligarchical economic structures in Armenia as the reason why many international organizations give the country low marks when it comes to investment potential. "If the market was open, the rules of the game would be that much clearer for the potential investor and business in general," he said. Mr. Papazyan added that economic growth rates in Armenia are quickly being restored due to the government’s strategy of diversification. The Fund is a non-governmental body created by the RoA government, in cooperation with top business leaders from around the world. It seeks to make Armenia competitive in the pivotal sectors of the economy and targets education, tourism and the health sectors for rapid development. In the health field, for example, the most important project in the planning stage relates to nuclear medicine. The project envisages the creation of a firm that will produce nuclear isotopes for the diagnose and treatment of malignant tumors and cardiovascular diseases. The 7 million Euro project is being jointly carried out by the RoA Ministries of Health and the Economy. The Belgian government is allocating 5 million Euros towards its completion.

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