Mikayel Melkumyan was born on April 1, 1962 in Yerevan.
In 1983 – 1985 he served in the Soviet Army.
In 1983 he graduated from the Faculty of Economics Planning of Yerevan State National Institute of Economy (YSNIE.) Economist. In 1987 he became a YSNIE postgraduate. In 1994, 1997 – 1998 he got training at the Chamber of Commerce and Industry of Lyon and at Paris 12 University (France). Doctor of Economic Sciences, Professor.
In 1987 – 1990 he was the Lecturer at Industrial Economics Chair of YSNIE. In 1994 – 1995 he was the Expert for the Standing Committee on Local Self-Government of the RA Supreme Council. In 1999 he was the Adviser to the RA Minister of Posts and Telecommunications. In 1999 – 2000 he was the Head of Staff of the RA Ministry of Social Security. In 2000 he was the Professor of Microeconomics and Organization of Entrepreneurial Activities of the Armenian State University of Economics (ASUE). In 2000-2003 he was the RA Deputy Minister for the State Property Management adjunct to the Government. In 2003 – 2004 he was the RA Deputy Head of the Department for State Property Management adjunct to the Government. In 2009-2012 he was the Head of the ASUE Chair of Microeconomics and Organization of Entrepreneurial Activities.
On May 6, 2012 he was elected NA Deputy through proportional electoral system from the Prosperous Armenia Party.
On April 2, 2017 he was elected NA Deputy through the Alliance of Tsarukyan Parties national list.
On May 19, 2017 he was elected RA NA Vice President.
On September 17, 2016 he was awarded Mkhitar Gosh Medal on the occasion of the 25th anniversary of the Independence of the Republic of Armenia by the Decree of the President of the Republic of Armenia.
He is the author of 130 scientific works, including monographs and manuals.
He is married, with three children.