Economy Minister: Armenia has experienced one of the most dynamic  periods of growth in its modern history

ArmInfo. Over the past five years, Armenia has experienced one of the most dynamic periods of growth in its modern history. Armenian Economy Minister  Gevorg Papoyan stated this in an interview with Forbes.

Specifically, he recalled that the country's economy expanded by 44%  in real terms, and GDP per capita doubled, placing Armenia among  upper-middle-income countries.

"We aim to build a self-sufficient, resilient economy that is  inclusive, sustainable and innovation-driven.  Key reforms have  modernized tax and customs systems, improved digital services and  expanded support for SMEs," the Minister said.

Papoyan also spoke  about the policy of diversifying exports and  reducing dependency on traditional markets. In this regard, he  touched on the government's "Crossroads of the World" initiative,  calling it a strategic infrastructure initiative linking north and  south and east and west. "The Crossroads of Peace project aims to  position Armenia as a regional transport and trade hub, enhancing  both competitiveness and resilience," he added.

Noting Armenia's commitment to peace and stability, the Minister  emphasized that this initiative is not simply a transport project,  but a symbol of a long-term dedication to secure economic cooperation  across the region. "By building physical and diplomatic bridges, we  are signaling that Armenia is open, reliable and future-oriented.  This environment, combined with transparent legal frameworks and  strong institutions, sends a clear message to global investors,"  Papoyan said. 

The Minister also touched on major infrastructure projects. In the  energy sector, he mentioned the construction of a solar power station  with the Emirati company Masdar, and in the mining sector, the  Amulsar gold mine. Other initiatives include Free Industrial Zones,  the Myler tourism project, and the Academic City, which is a new   innovation and education hub.

He stated that Armenia is increasing investments in renewable energy,  clean technologies, and green infrastructure. In this regard, Papoyan  spoke about the work being done to develop a national Green Economy  strategy, state support for projects in energy efficiency,  sustainable agriculture, and the promotion of low-carbon transport.

"Public-private partnerships are key to scaling these efforts, and we  are improving regulatory clarity to attract climate-smart investment.  The goal is to position Armenia as a leader in green growth in the  region," he emphasized.