ArmInfo.A favorable environment will be created for Armenian entrepreneurs with the establishment in the EAEU of a common financial market, a market for electricity, gas and oil, and most importantly, a single digital market. Professor, Doctor of Economics, member of the Eurasian Expert Club Tatul Manaseryan voiced a similar opinion during a press conference on February 11.
In particular, he stressed that with the action of a single digital market, the country will be able to develop knowledge-intensive industries. Referring to the statement of the members of the EEC Board, Manaseryan noted in this context that this will be an exceptional opportunity for Armenia to restore itself in the status of an industrial country, which in turn will allow young people to realize their potential, and thereby reduce migration.
At the same time, the economist drew attention to the country's potential in the jewelry and diamond business, which showed double-digit growth rates even in the most unfavorable economic periods. According to Manaseryan, there are no equals in the post-Soviet region for Armenian craftsmen in this industry. In addition, he pointed to the potential of Armenian IT specialists, who are in high demand. However, this branch is not integrated into the economy, but mainly carries out orders for foreign markets.
He continued, noting that it is the export of science-intensive products that will gradually allow Armenia to move to the category of developed countries. <We can import raw materials and export finished products and technologies. These are the foundations of Armenia. However, this requires discipline, professionalism and consistency>, he stressed.
It should be noted that according to the RA Statistical Committee, the lion's share of the revenue of the information and telecommunication technologies (ICT) sector falls on the service sector - 88.8% or 306.1 billion drams (y-o-y growth of 10.9%), and the manufacturing segment traditionally accounted for the smallest part - 2.4 billion drams alone (or 0.7%), with a y-o-y growth of 8.9%. In total, in 2021, the revenue of the ICT sector accelerated the y-o-y growth rate from 2.8% to 7.4%, providing a volume of 344.7 billion drams (about $684.3 million). Meanwhile, we note that in 2021, the volume of jewelry production accelerated the decline to 32.7%, amounting to 27.7 billion drams, and this trend was already visible in 2019-2020, when the decline accelerated from 7.5% to 13.3%.
