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Friday, November 16, 2018

Armenia to support SMEs

Prime Minister Hovik Abrahamyan

A measure that would provide support for small and medium-sized enterprises (SME) in Armenia was approved during a meeting  chaired by Prime Minister Hovik Abrahamyan on Thursday. 

The measure is to meant to increase the presence of these kinds of businesses within the national gross domestic product, including in areas with little to no SME activity. It will largely help SMEs in more remote areas including those at the borders. 

Abrahamyan predicted that the measure would result in a drop in unemployment of approximately 12 percent in the targeted areas. 

Other matters discussed during the meeting included changes to laws relating to voluntary work, the bankruptcy law and issues dealing with current legislation on prosecution practices.

All matters and measures discussed will be submitted to the National Assembly for approval.

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Government of Armenia

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