Armenia allocates more funds for military industryDecember 18, 2019 - 14:39 AMT PanARMENIAN.Net - More funds will be allocated to the military industry in 2020, Hakob Arshakyan, Armenian Minister of High-tech Industry, said on Wednesday, December 18. Arshakyan had revealed earlier that budgetary allocations in the military industry will grow by 122% year-on-year. Out of the AMD 12.5 billion ($26.3 million) to be allocated to the Ministry of High-tech Industry, AMD 6.3 billion ($13.3 million) were to be spent on military industry. The Minister said on Wednesday, however, that AMD 1 billion (approx. $2.1 million) will be added to the sum set to be used on the development of new weapons and military technology. Some of the expenses will be directed to scientific research, while the remaining part will be spent on the development of production capacities aimed at exporting Armenian military products to foreign markets. To achieve these goals, Armenia has developed a strategy for high-tech and military industry development and digitization for 2020-2025. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |