PRODUCTION OF LIGHT INDUSTRY DECLINES BY ABOUT 15% IN
ARMENIA IN 2007 ON PREVIOUS YEAR
30-04-2008 20:00:00 | Armenia | Economy
YEREVAN, APRIL 30, NOYAN TAPAN. 32 companies of light
industry, which were subjected to monitoring by the RA ministry
of economy in 2007, manufactured production of 8.1 bln drams
(over 3.2 mln USD) in 2007, or by 15% less than in 2006 when
their production amounted to 9.5 bln drams. NT correspondent was
informed by Armen Yeganian, head of the ministry's territorial
economic development unit that the decline was mainly
conditioned by the fact that the branch mostly operates by the
customs mode "temporary import for processing" and production
volumes depend on foreign orders. In 2007, sales of these
enterprises' production made 8.2 bln drams (in 2006 - 9.3 bln
drams), while their exports made 5.9 bln drams (in 2006 - 7.3
bln drams).
According to A. Yeganian, normal operation of the light
industry is ensured thanks to Hayas Group garment factory,
Arshaluys OJSC, Luxe shoe factory and several other big
enterprises. He said that local production is mainly competitive
in international market, with export promotion being one of the
directions of the ministry's policy.
The ministry has developed a draft 3-year state program of
assistance to handmade carpet making. The draft in particular
envisages such measures as financial support to operating
enterprises, assistance with production export, and organization
of exhibitions and advertising.
A. Yeganian underlined the necessity to maintain the
development rates of the handmade carpet making and to attract
foreign investments to this sector. In his words, about 10
handmade carpet making enterprises currently operate in Armenia.