Within framework of EU program, 19 potential investment projects in spheres of mining, chemical and textile industries, pharmaceuticals and jewelry business are modified

ArmInfo. Within the Twinning  program "Strengthening the institutional capacities of investment  policy and stimulating investments in Armenia", with a budget of 810  thousand EUR, 19 potential investment projects in the spheres of  mining, chemical and textile industries, pharmaceuticals and jewelry  business are modified. Answering the question ArmInfo, the head of  the Investment Promotion Department of the Development Fund of  Armenia, the permanent consultant partner Twinning, Natalia Artsruni,  said at the closing of the program in Yerevan on May 3.

As Artsruni noted, program was launched on October 15 2015, appeared  to be effective instrument for increasing professional skills of  personel responsible for attracting investment in the country.  

According to the First Deputy Minister of the Economic Development  and Investment of Armenia Garegin Melkonyan, the program consisted of  three components. First of all it was aimed at modifying policy and  strategy in the sphere of investments. The second component supported  the direct stimulation of investments and implementation of concrete  activities. The third touched upon post investment support and is  aimed at successful development of already created business. In the  implementation of all three components of the program, as emphasized  by Melkonyan, the experience of French partners was used, and the  French Business France acted as a partner of the program (a state  organization that acts as a partner of commercial companies when  exporting their products, ed). The program was completely financed by  the EU. "Twinning" is an initiative of the European Commission which  was established in 1998 in the context of expansion of EU. The  project is aimed at supporting candidate-states in the strengthening  of administration and legal completeness as future EU state members.