Armenian Government Launches New Initiative to Support Small Businesses

The Armenian government has unveiled a new initiative designed to support small and medium-sized enterprises (SMEs) in a bid to enhance economic growth and job creation. According to the Ministry of Economy, the program will include financial aid, training, and access to international markets.

"Recognizing the critical role SMEs play in our economy, we are committed to providing them with the tools necessary to thrive during these challenging times," stated Minister of Economy Vahan Kerobyan during the press conference.

The initiative will particularly focus on startups and innovative businesses, promoting technological advancements as a means of increasing competitiveness. In addition to financial support, the program includes workshops and seminars aimed at equipping entrepreneurs with essential business skills.

The government plans to allocate a significant portion of the national budget to this initiative, with the goal of reducing unemployment and encouraging sustainable development. The proposed measures are expected to generate over 10,000 new jobs within the next two years.

Economic experts have welcomed the initiative, marking it as a promising step towards revitalizing the country’s economy. They believe that with the right support, Armenian businesses can not only withstand challenges but also expand and innovate.

As part of the initiative, the government will also promote export opportunities, facilitating connections between Armenian SMEs and international markets. This effort aims to integrate local businesses into the global economy, boosting their visibility and growth potential.