YEREVAN. - The Armenian Government is ready to subsidize the commercial loans provided for expanding export.

Prime Minister of Armenia, Karen Karapetyan, said the aforementioned Thursday at the meeting with the company representatives working in the sphere of light industry.

During the meeting a number of issues related to the further development of the sphere and expansion of industry, as well as creation of new jobs were discussed, the Government press-service informed Armenian News – NEWS.am.

Karapetyan also stressed that the light industry sector is in the center of the Cabinet's attention, since it is not only export-oriented but also has great potential for development.  In his words, in order to foster the progress in the given sector, the state is ready to continue actively cooperating and contributing to the effective implementation of new programs. “The Government is ready to promote local manufacturer and subsidize the commercial loans provided for expanding and creating new jobs,” he said.

In this context, the company representatives voiced specific investment initiatives aimed at the expansion of their activity, as a result of the implementation whereof it is planned to create several thousands of jobs in the republic. The Prime Minister instructed the Minister of Economic Development and Infrastructure to discuss all the initiatives and move forward as soon as possible.

Referring to tax and customs administration, Karapetyan stressed: ''Our task is to provide equal competition conditions for business. Today nobody enjoys preferential conditions.''

During the meeting, issues on the deadlines for VAT repayment, education and improvement of specialists of the sphere, etc. were discussed.