Armenian government adopts OSCE-supported plan for economic diversification in Syunik province

A plan prepared with the support of the OSCE Office in Yerevan to promote job creation and income generation in non-mining industry sectors of Syunik province was approved by the Armenian Government on 6 February 2014.

The Economic Diversification Plan aims to increase taxes payable to the national budget and contribute to socio-economic development and stability. The non-governmental organization Centre for Regional Initiatives also advised in the preparation of the plan.

The plan outlines the key directions for private sector development and suggests how to apply specific tools to promote investment in selected industry sectors.

The OSCE Office in Yerevan, through its Programme Implementation Presence (PIP) in Syunik province, has been working on diversifying the local economy, which is heavily dependent on the mining industry. The Office organized a three-day investment forum in November 2013 to present investment opportunities in non-mining sectors, such as agricultural production, food processing and tourism.