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.