Karen Karapetyan assigns to submit a proposal on replacing import with local production

Armenian PM Karen Karapetyan gave a few assignments today prior to the session.

The PM assigned Ministers of Economic Development and Investments, Finance, Defense, Agriculture and Health to jointly examine and submit  a proposal within 20 days on replacing import with local production per separate items.

“In particular, observe replacement mechanisms, different possibilities, including, firstly, equivalent replacing commodities, organization of production of which locally may be beneficial and competitive towards importers, through market mechanisms make possible provision of demand towards those commodities from the perspective of local production on account of reduction of demand for imported commodities. Secondly, commodities, organizing production of which locally is beneficial, and they’re competitive in the market, however, capabilities of functioning such productions are restricted, or such production isn’t organized locally, moreover, investments targeted at increasing production of those commodities or increasing production capabilities may be bought back in an average term,” the PM said.

By Ofelya Hovhannisyan