YEREVAN. – The state-private sector partnership should be the basis for Armenia’s economy, chairman Vazgen Safaryan of the Union of Domestic Goods Producers stated during a press conference on Tuesday.

With this model, Armenia’s large enterprises, which are left from the Soviet times, will cease to overload the economy and they will transform from monopolies into open joint-stock companies. 

“[The] Nairit [rubber plant], which is a monopoly not solely in Armenia but all through the CIS, is a vivid example. If possessing the assets of these enterprises is not removed from the community, they would be of a much larger benefit to the country,” Safaryan concluded.