Nerses Yeritsian: Armenia has potential for developing<br /> pharmaceutical and tourism sectors<br />


Nerses Yeritsian: Armenia has potential for developing
pharmaceutical and tourism sectors

  • 10-03-2009 14:00:00   | Armenia  |  Economy
YEREVAN, MARCH 10, NOYAN TAPAN. Information and high technologies, tourism, and pharmaceutical sector are of importance from the viewpoint of diversification and increasing the Armenian economy's export potential. The opportunities to increase production volumes in the pharmaceutical sector are related to growing demand in the international market, the RA minister of economy Nerses Yeritsian stated following the visit of Armenian president Serzh Sargsyan to Liqvor pharmaceutical company on March 7. The minister explained that the global market of mass-production medicines will expand year by year, the demand for medical services will grow, and today there is some deficit of medicines in the world. "Countries with production, technological and scientific opportunities, well-qualified labor force and a university potential for personnel training define pharmaceutics and tourism as high-priority sectors. We have this potential, and we hope that in parallel with its development it will become possible to shift to the sale of medicines we have created. But time is needed to achieve this," N. Yeritsian said. In his words, thanks to the use of the indicated potential, Armenian pharmaceutucal companies may expand rapidly, make investments in scientific and technological developments and produce several types of medicines under their own brands at much higher prices. It was mentioned that Armenian companies also have the opportunity to occupy some niche of the domestic market of most necessary medicines. The minister added that enterprises of all sectors of the economy have export and marketing problems, for solution of which the government plans to provide institutional assistance as well - by using the capacities of the Armenian Development Agency and the National Competitiveness Council.
  -   Economy