YEREVAN, FEBRUARY 24, NOYAN TAPAN. The anticrisis measures taken by the Armenian government will allow domestic producers to overcome the global financial crisis with minimal losses. The chairman of the Union of Manufacturers and Businessmen of Armenia Arsen Ghazarian stated at the February 24 discussion with the participation of businessmen that the government measures, in particular the legislative amendments, are aimed at developing agricultural produce processing, mechanical engineering and mining industry, as well as at export promotion and replacement of imported goods. In his words, local producers have always anticipated the state to create favorable conditions for domestic production. Although the steps taken by the government are belated, according to A. Ghazarian, today the economic policy is radically changing thanks to these steps: in particular, all companies to submit serious business plans will receive state assistance. The director of Yerevan Jewelry Plant Emil Grigorian expressed an opinion that only cooperation of the state and private sector will reduce the impact of the crisis. He informed those present that the ministry of economy has developed a package of actions related to the gem and jewelry sector and will soon submit it to the government for discussion. E. Grigorian said that the proposed measures are aimed at developing the sector. Electric Appliance company is facing serious problems, paricularly problems in the Russian market due to the depreciation of the ruble, the company's director Zaven Harutyunian said. "If we fail to keep these markets, our 10-15-year work will come to nothing," he noted. In his opinion, the state should give loans to companies operating in this sector in order to help them withstand the crisis. The discussion participants said that the state should support first of all those sectors that are not developed but have great potential.

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