The USAID Competitive Armenian Private Sector Project summarized the results of its activity in Armenia.

Director of CAPS Artak Ghazaryan said that the program operated in Armenia from 2006 to 2011, while the total financing of the program amounted to USD 14mln.

“The results are rather significant. 500 companies used the program, and we assisted them in introducing international management standards, what will allow increasing their opportunities and obtaining additional financing,” Ghazaryan told journalists.

According to him, the program aimed to increase competitiveness in various fields, such as IT and tourism.

Ghazaryan said that concepts for IT field development were approved and other programs were implemented through the efforts of CAPS; besides, a concept for tourism development, specifically in Jermuk, was adopted.

Ghazaryan added that there are positive results in GMP standards introduction in the pharmaceutical field, while local producers of medicines have attracted additional investments to increase production capacities and export