At its Feb. 17 sitting the Armenian Government approved an initial strategy of forming innovation-based economy. RA Minister of Economy Tigran Davtyan called the document the first step to form a knowledge-based economy.

The draft strategy envisages the entry of global technological companies to Armenia by 2020.

The Armenian Ministry of Education and Science has raised serious objections to the concept.

“The major defect of the document is that it actually ignores science,” the ministry sates.

The Ministry of Economy disagrees with the Ministry of Education and Science. “The tasks set by the initial strategy involve research and development,” the ministry stated.