«STRATEGY OF EXPORT – LED INDUSTRIAL POLICY OF REPUBLIC OF ARMENIA Yerevan TABLE OF CONTENTS 1. Policy Context 2. Current State 3. Goals and ...»
Strategy Implementation Agencies The Enterprise Incubator Foundation will coordinate initiatives for developing the innovation support system, namely, establishing and implementing venture capital fund, introducing innovation grants, establishing techno parks.
Trade representative offices and representatives: Armenia’s trade representative offices and agents will cooperate with strategy implementation agencies by representing the interests of RA and/or individual economic entities from Armenia in foreign countries, establishing business contacts, supporting trade and economic agreements.
Development National Center (SME DNC): SME DNC foundation, the implementing agency for government projects supporting SME, within its functions, will support SME-s and start-up businessmen to be efficiently integrated in the export value chain within the framework of sectoral strategies.
SME Investments UCO: SME Investments Universal Credit Organization, established by the state and funded by government means, will complement private financial institutions through specific financial tools and provide access to finance for SME-s at favorable terms. It is planned to develop and use new tools for export promotion, particularly to create lending mechanisms based on export contracts.
Under the Export-led Strategy the Pan-Armenian Bank will finance systemic initiatives and infrastructure projects.
Other organizations: The Government and agencies providing state aid, will also, within the range of their functions, actively cooperate with the infrastructure established solely/jointly by the private sector and donors, namely, foreign representative offices of chambers of commerce and industry, associations, and export organizations. Special organizations may also be created under sectoral strategies or the scope of authorities of existing organizations can be expanded to complement the functions of existing organizations in specific areas, namely, setting up sales agents or representative offices in target foreign markets and supporting firms by providing information, technical advice and financial support in introducing up-to-date technologies.
10. Resources The principle of public-private partnership underlies the activities carried out within the framework of the industrial policy. Resource requirements shall be reflected in sectoral strategies based on initiatives contained there. The RA state budget, the private sector and donors will be the funding sources for the latter. The toolset and the principles discussed in the Strategy will be applied in the provision of the support by the state and the donor organizations. Sectoral strategies will serve as a basis for coordination of initiatives and guiding and complementing efforts of public and donor organizations aimed at supporting the private sector.
11. Monitoring and Evaluation The evaluation of the strategy implementation process and results will be carried out through a system of a two-level target indicators – strategic target indicators and operational indicators
according to initiatives:
Strategic target indicators are:
1. Goods export to GDP ratio;
2. Export volume (excluding metal mining goods and diamond);
3. Real increase in the productivity of the processing industry.
Sectoral strategic indicators and relevant monitoring arrangements will be developed for individual sectoral strategies.
Operational indicators for initiatives will be developed based on the objectives of initiatives. The monitoring and evaluation of operational indicators will be carried out on an annual basis.