ARMENIAN GOVERNMENT TO ASSIGN $250 MILLION ON RECONSTRUCTION OF DISASTER AREAS
ARKA
Feb 2, 2009
YEREVAN, February 2. /ARKA/. Armenia’s Government plans to assign
$250mln for reconstruction in the 1988 Spitak quake-hit regions,
RA Prime Minister Tigran Sargsyan said during today’s conference on
construction issues.
Ministers and leaders of authorized agencies, Rector of Yerevan
State University of Architecture and Construction (YSUAC), as well
as specialists and private businessmen participated in the discussions.
"These large-scale investments will help restore the disaster areas,"
the premier said, stressing the need for private investments in
the project.
With construction being the most powerful impetus of the country’s
economic progress in the past years, it promotes development of other
sectors as well, Sargsyan said, pointing out a considerable decline
in Armenia’s construction business due to the global economic crisis.
The premier stressed the importance of the government assistance and
the policy of boosting economy by opening new employment opportunities,
adding construction is in the government’s focus.
"Our strategy in this situation is rather simple. The government
must extend its expenditures to open new employment opportunities,"
the premier said, hoping the expenditures would prove to be effective.
International experience has shown that the most profitable
investments are those in infrastruct ures, Sargsyan said, adding new
infrastructures in road construction, agriculture, irrigation and
the system of drinking water are the government’s top priorities.
"No one except us can make forecasts of the sector. What are your
assessments and forecasts? What joint activities do you think we need
to undertake to soften the impact of the global economic crisis?" the
premier asked the construction specialists and entrepreneurs.
During the meeting, the RA minister of Urban Development and head of
the industrial department of the RA Ministry of Economy put forth
their proposals on boosting construction, followed by remarks and
suggestions of the private sector. The businessmen presented the
current problems in the sector, touching upon expert assessments
and licensing, as well as a considerable reduction in experienced
construction specialists, procurement of equipment, modernization of
the existing industrial park and challenges in credit markets. The
participants stressed the importance of revising the legislation.
During the conference, the prime minister gave relevant instructions,
pointing out the lack of a program for the development of construction
business and insufficient professional abilities in the field. He
emphasized the role of international support to retraining programs.
Sargsyan charged the ministers of economy and urban development to
make out what kind of technical assistance is necessary to promote
construction bus iness in order to enter into negotiations with
interested international organizations.
Together with the construction specialists, the two ministers are to
elaborate a program to boost construction in Armenia.
The prime minister asked the private sector to collaborate with the
government in facing the existing challenges.