On August 1, the Armenian government approved a series of amendments to the "Defense Industry Law" aimed at simplifying the procedures for financing and supporting defense industry enterprises.
Minister of High-Technological Industry Mkhitar Hayrapetyan explained that companies will now be able to receive funding for specific stages of development, such as research and development work, without needing to complete the full cycle of scientific research.
Another significant innovation concerns state testing. Previously, companies had to independently secure funds to create experimental samples. Now, the government plans to allocate additional funding for these purposes, which should significantly ease the process of developing and testing new military equipment.
Additionally, the bill provides for the creation of state reserves of strategically important components. This measure is intended to ensure continuity in production in case of disruptions in foreign supply chains.
Earlier, BMG reported that defense industry orders from the Armenian Ministry of Defense could reach up to $500 million.
