“The purpose of business is to help strengthen the foundations of statehood in the economic sector,” stated the President of the Union of Manufacturers and Businessmen of Armenia (UMBA)
The agenda of the UMBA’s extended council meeting on November 15 included the discussion of a state support program for commercial companies engaged in the production of economically complex goods in Armenia.
“Often, support programs developed and implemented by the state are not fully utilized because beneficiaries do not fully understand what assistance is being offered or how to benefit from it,” said UMBA President Arsen Ghazaryan. He noted that this issue also affects the support program for companies involved in the production of economically complex goods, which, based on past experience, is currently undergoing refinement at the Ministry of Economy of Armenia. The purpose of this discussion was to clarify the program’s provisions, make it accessible to beneficiaries, identify challenges in its usage, and consolidate the perspectives and suggestions of businesspeople regarding these issues.
The provisions, goals, and implementation procedures of the support program were presented by Ashot Soghomonyan, Advisor to the Business Environment Department of the Ministry of Economy of Armenia.
The agenda of the extended council meeting of the UMBA also included the issue related to convening the upcoming 9th congress.
“Since its establishment in 1996, the Union has gone through various stages of development. Initially, we were a very large organization, then, at different stages, we filtered our membership and developed diverse agendas,” said UMBA President Arsen Ghazaryan in his speech. “Today, we still face challenges, including protecting the interests of our members, identifying and raising issues that hinder economic development, fostering dialogue with executive and legislative bodies, and enhancing the effectiveness of that dialogue.”
The UMBA President emphasized the importance of intensifying expert work, involving young entrepreneurs in the activities of the organization, and passing on the experience of senior members to the new generation. According to Arsen Ghazaryan, business is an essential component of the state’s economy, and it must voice its perspective and be heard. It has a single goal: to help strengthen the foundations of statehood within the business and economic sectors.
At the meeting, it was decided to convene the 9th UMBA Congress between November 25 and December 9, 2024. Drafts of several resolutions to be submitted for approval at the congress were also adopted.
