Armenia Needs More Foreign Investment in Jewelry

Panorama.am

19:22 24/11/06

ARMENIA NEEDS MORE FOREIGN INVESTMENT IN JEWELRY

For the first 10 months of 2006, the volume of
production in jewelry and gold in Armenia made up 74.4
billion Armenian drams and the volume of sale made up
75 billion Armenian drams. These indicators diminished
by 19.7% and 17.6% as compared with the reporting
period in 2005. Also, 300 less people are employed in
the sector, Gagik Lazarian, head of jewelry
department at the ministry of trade and economic
development, told a press conference today. In his
words, the decline is conditioned, first of all, with
the crises in the international jewelry market which
continues for 2 years. It is also connected with
devaluations of the American dollar.

Lazarian believes jewelry company need better
management and higher technologies. `New foreign
companies must be attracted to the field,’ he said.
/Panorama.am/

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS