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.
