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Trdat Musheghyan

Armenia to Spend $1.5 Million on Bio-Tech Center

Armenia’s Ministry of the Economy wants to spend 600 million AMD (US$1.5 million) to establish a bio-tech center in the country to promote scientific research and development.

The ministry argues that the government must boost pharmaceutical R&D given that the sector is one of the country’s niche exports.

According to the government's 2021-2026 action plan, pharmaceuticals is defined as one of the five priority industrial sectors.

The ministry says drug production in Armenia increased by 178.6% over the past ten years and exports rose by 103.6%.

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