Armenian industrialist wants less emphasis on raw materials

Chair of the Entrepreneurs' Union of Armenia, Vazgen Saparian, has asked the government to pay more attention to industry.

Saparian believes that it would serve Armenia's economy better if it focused on processed goods, rather than raw material such as copper. He estimates that gains could be in the realm of 3.7%.

Industry currently contributes approximately 20% of Armenia’s GDP, down from 65% during the Soviet period.

Saparian also noted that Armenia could better administrate the loans received by the country from the IMF and World Bank.