Armenia's Minister of High-Tech Industry, Mkhitar Hayrapetyan, announced the development of several legislative packages aimed at creating a more favorable environment for the advancement of high technologies and the military industry. This statement was made during the Second World Armenian Summit.
According to the minister, many of the current legal regulations date back to Soviet times and, to some extent, hinder the development of these sectors. Hayrapetyan stressed that if Armenia wants to offer something to the world, the first step is to identify and address the issues that impede the rapid growth of the technology sector.
One of the key bills, in the minister’s view, is the "Military-Industrial Complex" law, which has already been approved by the government. According to Hayrapetyan, this bill could significantly change the situation in the military industry. It governs relations between three parties: the Ministry of High-Tech Industry, the Ministry of Defense, and the industrial sector.
He stated that the new law aims to reduce bureaucratic barriers, which currently create serious problems for companies operating in the military industry. Additionally, the bill provides for the establishment of new funding procedures for research and development activities.
