Armenia offers unique opportunities for investors, while developing its labor market, Armenian Economy Minister Gevorg Papoyan announced at the “Countries Under One Roof” international forum Tuesday in Yerevan.

According to him, Armenia is on the path to building a sustainable economy, and working to implement the “Trump Route” and improve the business environment.

Papoyan added that the Armenian government’s policy is aimed at promoting the development of the private sector, promoting international cooperation, and positioning Armenia as a reliable partner in trade, innovation, and sustainable investments.

“In recent years, we [i.e. Armenia] have prioritized creating an investment environment based on transparency and the rule of law, which stimulates business initiatives. Small and medium-sized businesses are the backbone of our economy,” he emphasized.

As per the economy minister, the Armenian government’s targeted support mechanisms help businesses expand their initiatives and integrate into the global market.

He assured that the Armenian government attaches importance to changing business models based on the use of artificial intelligence (AI) tools, and added that Armenia can become a regional center for the development of AI in logistics, industry, finance, and some other sectors.

Economic development should be accompanied by the fulfillment of obligations in the social sphere, as well as in environmental protection, Gevorg Papoyan added.