The Support to SME development in Armenia program launched in Armenia in 2016 will continue till 2019, GIZ (German Society for International Cooperation) representative and program consultant Pier Prievich said on Tuesday during the press-conference preceding the Business Innovation Forum to be held in Dilijan from November 18 to 19.

In his words, the program aims to improve the country’s business and investment climate and contribute to the creation and development of SMEs, as well as ensuring comprehensive growth in Armenia. “The program is implemented with different partners, aiming to strengthen the formed private sector and SME coordination mechanisms, establish links between research and economic institutions, as well as form mechanisms for differentiated allocation of financial means to SMEs,” the GIZ representative noted.   

The program will be implemented in five target areas:

• Improvement of policy development mechanisms and coordination of support aimed at SME development for the purpose of forming favorable environment for business development,

• Strengthening of private sector organizations for implementing SME policies,

• Improvement of idea commercialization process through linking research institutes and business units by cooperation networks,

• Improvement of the structure and governance of economic clusters (business incubators, technoparks and free trade zones),

• Formation of diversified allocation of financial means to start-ups and operating small companies with innovative orientation.

The GIZ renders its services all over the world in the areas of international cooperation and sustainable development.  Since 1990 it has also been supporting the South Caucasus countries on their path to turning into market economy.