ArmInfo.The Union of Manufacturers and Businessmen of Armenia (UMBA) hosted a discussion on economic development trends in Armenia.
According to UMBA President Arsen Ghazaryan, following the recent meetings with high-ranking representatives of the executive branch, a conviction has emerged that reforming the Armenian economy and developing strategies in various sectors aimed at achieving this goal have become the imperative of the day.
He emphasized the importance of intensifying analytical work with the participation of the business community and academia in order to refine approaches and visions for reforming and developing the country's economy.
In their speeches, entrepreneurs focused on the country's security problems and existing geopolitical risks associated with economic activity. At the same time, they expressed the belief that the economy is one of the components that contributes to strengthening the country's security.
The meeting participants expressed concern that strategies and programs developed at different times are not being brought to the final result, and with the change in the geopolitical situation, the economic policy adopted so far is also changing significantly.
During the discussions, the need to revive the country's industry, which is gradually losing its position in the overall structure of the economy, was emphasized. The outflow of Russian capital may leave its negative mark on the Armenian economy, the trends of which are already visible. Emphasizing the importance of dialogue with the executive branch, those present noted that often the programs and proposals they presented do not receive a timely and necessary response from the authorities. In some cases, businessmen learn about economic decisions only after they have been made.
