The Armenian government’s program on technological transformation and optimization of business processes in military and priority sectors is set to add another component aimed at increasing the number of companies. Deputy Prime Minister Vahe Kerobyan made the announcement during a government session on January 25. Kerobyan highlighted the success of the government’s green economy program, with 3,590 companies already benefiting from the program, upgrading their equipment, networks, and workshops. This represents a significant investment of 207 million drams (over 500 million dollars) in increasing production capacity.

Kerobyan also revealed that approximately 45 percent of partners have utilized the assistance offered, resulting in 47 million drams worth of investments registered in the construction sector and healthcare field. Furthermore, the program aims to improve production quality by introducing international standards with the support of foreign experts. So far, 367 specialists have been retrained in 28 companies, receiving scholarships ranging from 20 to 70 percent for a period of three years.

The government is now introducing a third component to the program, focused on enhancing companies’ production capacity. Currently, more than 90 percent of companies do not meet numerical requirements, and this new tool aims to help them become more efficient and improve their processes. The program consists of three components: energy efficiency subsidies, loan resources for digitalization audits, and grants for successful companies that meet quality management and digitization standards, as well as export diversification targets.

Prime Minister Nikol Pashinyan highlighted the success of the program, pointing to the leasing program in the region of Kvemo Kartli. Thanks to the program, the region has seen the introduction of current, modern, and high-quality loaders and technology on its roads and construction sites. Pashinyan also noted that the program has an energy component, as imported equipment through leasing replaces older equipment that does not meet energy efficiency criteria. The Armenian government’s initiatives demonstrate their commitment to supporting businesses and driving technological advancements in various sectors.

Sources: NEWS.am