President Serz Sargsyan wished Armenian businessmen a happy New Year, wishing them success in 2012.

“The outgoing year was full of challenges. In 2011, the whole world, and specifically Europe, was facing serious economic and financial problems they haven't completely recovered from. Most probably, the issues will continue into the year 2012, however, despite difficulties described, in 2011 Armenia showed growth in the sectors of industry and agriculture, mostly through the effort of local entrepreneurs, with the country achieving political and economic stability,” presidential press sservice quoted the Armenian leader as saying.

President Sargsyan further stressed the necessity for development of businesses by creating a favorable climate and promotion of cooperation with the entrepreneurs.