On July 23, 2021, acting Prime Minister Nikol Pashinyan held a consultative meeting to discuss the development programs implemented in agriculture.
Deputy Minister of Economy Arman Khojoyan reported that the output of fruits, vegetables, canned food, and fruit juice had increased by 59% compared to the same period last year. 116,930 tons of fruit and vegetables have already been exported.
Arman Khojoyan added that there are 14 development programs in the field of agriculture, including leasing programs, horticulture and irrigation, insurance, livestock breeding, winemaking, subsidized loans, spring and winter wheat processing, etc.
The Deputy Minister further noted that 518.6 hectares of intensive orchards were established in 2020.
The program was amended last year and currently, it enables farmers to build water pools in their orchards, which will ensure an uninterrupted supply of irrigation water.
Another important thing worth mentioning is that the number of insurance contracts has tripled this year compared to 2020. Grain, apricot, and apples top the list of the crops insured.
Issues related to the output of spring crops are also on the agenda of the Ministry of Economy. Arman Khojoyan reported that they have met with the leading producers of wine and brandy to reveal the issues related to the procurement of grapes and other fruits.
As a closing note, acting Prime Minister Nikol Pashinyan stressed the importance of achieving increased productivity in the field of agriculture and emphasized the need to ensure the efficiency of the programs implemented by the government.
We would like to remind you that agriculture has been the top strategic direction for the Government of Armenia for the past few years.
In 2020, agriculture in Armenia contributed around 11.99 % of the country’s GDP. This sector employed around 24% of the total workforce.
The Ministry of Economy has announced that further reforms are planned in 2021 and they expect this year to be a game-changer in the agricultural sector of Armenia.
By the way, on the 10th of June Kingsmen CEO Angelo Hani gave an interview, during which he presented the benefits of investing in the agricultural sector of Armenia and shared an interesting insight into the specifics of walnut farming.
Interested in investing in the agricultural sector in Armenia? At Kingsmen Investments, we are ready to address all your concerns and guide you through your investment journey in Armenia. Check out our investment opportunities here or give us a call at (+374) 95 110 301. High return on investment guaranteed!