Investments reduced (video)

Today there was the ceremonial session and 6th conference dedicated to the 15th anniversary of foundation of Domestic Goods Producers Association. The RA Prime Minister Tigran Sargsyan was also present at the conference.

According to the head of Domestic Goods Producers Association Vazgen Safaryan most of the local producers are for joining the Customs Union, “Their products have been always realized in the Customs Union, it means in Soviet countries, they accept that view according to the need for their economic development,”- he stresses.

By joining the Customs Union we must recover our industry, notes Vazgen Safaryan, “Our total industry volume, forms 20% in the GDP, and in the past it was 67%”

Safaryan also adds that the investments have been recently reduced. According to him, if there are investments, Zangezur Copper and Molybdenum Combine will not only export raw materials but also will give final products, “They are precious metals, we can get 3.5 tons of gold.”

Many local production companies have various problems. He noted that the state must subsidize a little more the loans provided for exportation promotion, “If they subsidize 3%, a little more must be subsidized, in that case more businesses can use the loans.”