Tag Archives: “Boosting competitiveness of regional SMEs” project

On 2 September four new enterprises were officially opened in Vanadzor, Stepanavan and Alaverdi (Lori marz) through the support of the European Union. All enterprises started activities as part of the “Boosting competitiveness of regional SMEs” project. This is being implemented by the SME Development National Centre of Armenia and its partners.

^B2B958BA67C5A4AE02EAFAFBE65FB7BCAC8A0B4D7A6C8573E7^pimgpsh_fullsize_distrVigen Mnatsakanyan founded his business ARMBEE in Alaverdi to engage in the apitherapy business (healing through bee products) and apitourism. Ruzanna Hayrapetyan, the owner of Gandzak fast food and bakery in Vanadzor, has set up a new business on the site of an empty former furniture shop that belonged to her family. Arman Arakelyan founded “Lore” LLC in Stepanavan, which will provide hospitality services for leisure fans. Hamlet Tumasyan is the owner of a new guesthouse in Stepanavan.

^8ACCA18F69DA231F6E2D1918CD60DA728302274E27E69E08B4^pimgpsh_fullsize_distrArshak Grigoryan, Executive Director of SME DNC in Armenia (the project implementing organisation, presented the issues facing small- and medium-sized enterprises: ‘We believe that potential business people in Armenia have three main problems: lack of knowledge, lack of financial resources, and lack of market access. We are trying to deal with these three key issues during our activities and suggest solutions. Today, the share of SMEs in GDP is insufficient, but the current policy is aimed at improving that gap. This project is a part of that policy – these four enterprises have provided at least 30 jobs, and will soon boost revenue, which is beneficial both for their business and for the country’.

^46CB8BE11E532FD3E7AF09F09DB2B4146B3E82447074FA1AC6^pimgpsh_fullsize_distrLilit Apunjanyan, Project Coordinator of “Boosting competitiveness of regional SMEs”, was happy to see that, thanks to the EU-funded project, the enterprises which had received support were developing well: ‘The main goal of the project was to support SMEs. Many talk about unemployment, but when we talk to business owners, we understand that they cannot find a good workforce. Such projects help to fill that gap. We work in three marzes: our actions are the same, but the enterprises are different, depending on a marz’s peculiarities’.

“Boosting competitiveness of regional SMEs” is a two-year project launched on 14 December 2016. It is funded by the European Union and the Ministry of Territorial Administration and Development of Armenia through the Pilot Regional Development Programme (PRDP). The project is being implemented by a consortium, coordinated by the SME Development National Centre of Armenia. The total project budget is €1,604,808, of which the European Union contribution is €1,123,370. The overall objective of the project is to boost competitiveness of regional SMEs and create sustainable employment opportunities in Lori, Syunik and Armavir marzes. Expected project results include the creation of sustainable jobs at the local level; increased competitiveness of local enterprises; the establishment of new enterprises. The project consists of a range of consequent and complementary activities, with the main purpose of considerably improving the economic wellbeing of target groups and final beneficiaries.