12, 2009

President Serzh Sargsyan held a reception hosting over one hundred representatives of the business circles of Armenia

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On the occasion of New Year and Christmas holidays, the President of Armenia Serzh Sargsyan held a reception at the Presidential Palace, hosting over one hundred representatives of the business circles of Armenia.

Congratulating the invitees with the approaching holidays, the President of Armenia said, “This has been a difficult year for our economy, full of challenges. Every one of you has been compelled to struggle not only with the problems created by the unfavorable business environment, but also to make decisions constantly influenced by the human factor stemming from the responsibility towards the employees and their families. I know, that the decisions you have taken were not always in line with the classical business rules. Often, the decisions were taken not for the benefit of quick business development but for the benefit of the people, your employees, led by the logic of preserving as many jobs as possible. I know it all pretty well. As a result, through our joint efforts, working together with the government we have been able to prevent the worst – socials turmoil and even larger negative impact on the most vulnerable groups of society.
Today, glancing back at the economic developments of 2009, at the taken steps and at the attitude displayed by many of you, one can say that a business class in Armenia is taking shape. The objective of that class is not to reap immediate profit, but rather to create a long-term and shrewd business style. This type of entrepreneurs makes the backbone of any country, assisting in enduring the most cumbersome problems.
Some may think that this kind of challenges in a small economy can cool down business enthusiasm. It is not true. We, thanks God, show no sign of diminishing enthusiasm or vigor. We are ready for new solutions. It is true, that the economic indices are in decline, huge decline, which, I think, will not subside in December. However, a search for new solutions or development of new projects will not subside either. As a result, the unprecedented decline caused by the financial and economic crisis, is recoiling slowly but steadfastly. Recent macroeconomic developments and indications of stabilization of the economy allow us to estimate the prospects of the economic development of Armenia in 2010 more assertively.
The Armenian entrepreneurs have always been flexible and able to find unorthodox solutions. The economic crisis has been a test to those abilities.
One year ago, we were claiming that a local producer who loses one of the foreign markets should try to channel his resources toward the implementation of new ideas. I am aware of a dozen of such initiatives that you have come up with.
We were also claiming that a businessman, who has a rich experience as an importer, should try to become a producer and exporter. And in this area we have already registered some results.
On year ago, we also were saying that the banking system, which withstood the test of reliability, should become a locomotive for small and medium businesses. Today, we can register some success in that area as well, stating at the same time that we expect more.
In times of peril more than once we have been able to come together and complement each other. Economic solidarity, the pivotal principle of working with the government to complement its activities should also continue in 2010.
We all realized that the coming year will be a year of hard work. It must really be a year of speedy recovery. I believe that the Government and the Presidential Staff will make every effort to make 2010 a year of true recovery.

I wish you success in the New Year. Your success is our common success, success for our economy.
Once again, I congratulate you all, wishing festive mood, warmth, peace, and serenity to your families.

I congratulate us all, let year 2010 be a year of economic recovery for our country, stronger security, and a year of successful solutions for the social and internal political issues.”

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