[Local] companies engaged in the military industry complex have received 122 billion drams (approximately more than $300 million) worth of orders  from the Ministry of Defense (MoD) of Armenia. Mkhitar Hayrapetyan, the Minister of High-Tech Industry of Armenia, stated this during a press conference Monday.

"By the end of the year, we expect that indicator to reach 191 billion drams [i.e. approximately more than $477 million]. Twenty-five companies have received orders from the MoD. We expect this indicator to reach 29 by the end of the year," he added.

The minister said that as of now, 46 three-year contracts have been signed.

Hayrapetyan noted that the goal of the Military Industry Committee of Armenia is to create appealing conditions for military industry companies.