“Are there government support programs planned for Artsakh businessmen?” During yesterday’s press conference, Minister of Economy Gevorg Papoyan addressed this question, explaining that there are many programs available for businesses. For example, in the textile industry, if a businessman has one year of experience and is entering the field, the state compensates the income tax of the business. For residents of Artsakh, the one-year experience requirement is waived.
“Unfortunately, our state’s resources are limited. As a result of policies balancing equal competition and opportunities, we suggest that businessmen from Nagorno-Karabakh take advantage of the existing offers. If there are business ideas, I am ready to discuss what we can do more concretely” he said.
When a journalist pointed out that existing businesses might fail under the unfavorable conditions in our country, Papoyan responded: “RA was the 9th in the world in terms of economic growth in 2022, the 4th in 2023, and now the growth rate is even higher than in 2023. In developed countries, if 100,000 refugees appeared at the same time, tent cities and camps would appear.
However, in our country, there was no such situation. Yes, some have lost their businesses, like hotels, but if your proposal is to rebuild these businesses with the state budget, it is a difficult and problematic task. State funds are public funds. If you agree to such a proposal, you must also agree to forgo building a given tunnel, reservoir, or providing pensions. Our economic policies should be within our capabilities and not disrupt the competitive situation.”
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Nelly Babayan
