Russian experts are contributing to the development of industrial sites and the investment climate in Armenia

Boosting business environment and investment climate, mitigation of territorial development inequalities is one of the priorities of Armenia Development Strategy for 2014-2025.

At the request of the Ministry of Economy of Armenia, Russian experts conducted a comprehensive study of current industries and enterprises and identified the most suitable areas for industrialsites. The experts developed and presented a functional map of 15 key industries and enterprises with a detailed analysis of cooperation links and marketpotential. Also, the experts delivered three mentoring sessions on establishing and development of industrial sites considering the impact of ESG factors (ecological, social, and governance)forthe organizers of the free economic zones, such as Industrial Parks, Technology Parks, representatives of executive authorities and the business community.

As a result of experts’ work four memoranda between Russian and Armenian FEZs were signed establishing the working contacts between the infrastructuresites of the two countries. The study was presented to the Ministry of Economy and the Ministry of High-tech Industry of the Republic of Armenia for furtheruse in development of the industrial policy of Armenia.

The work of the Russian experts was implemented with the financial support of the Russian Federation within the framework of the project "Knowledge Management and Capacity Development in the UNDP-Russia Partnership".