ArmInfo. The mining industry could become a key driver of development in strategically important areas for Armenia, including high technology and the defense industry, as stated by Vardan Janyan, Vice President of the Zangezur Copper and Molybdenum Combine (ZCMC) and head of the Union of Miners and Metallurgists of Armenia, during a panel discussion at the RISE exhibition and forum on June 3.
Janyan noted that the state is currently allocating over 170 billion drams for the procurement of domestic military-industrial complex products as part of a three-year program. He pointed out that the mining industry contributes a comparable amount to the state budget annually in the form of tax revenues. "We have the capacity to double or triple this financial contribution, serving as the foundational bedrock for the development of industries vital to the state," the ZCMC Vice President asserted. To illustrate his point, he cited the economic model of China, which strategically reinvests revenues generated from its export- oriented sectors into the development of high-tech and strategic domestic industries.
"In Armenia, the mining industry is one of the largest sources of budget revenue. This potential can be used to advance the development of the technology sector and the military-industrial complex," the head of the Union of Miners and Metallurgists noted. Janyan also emphasized that the mining and metallurgical industries are knowledge-intensive, creating a demand for highly qualified personnel—engineers, chemists, mechanics, and other specialists. Training such personnel is important not only for the mining industry but also for other sectors, including the military-industrial complex. Thus, as Janyan noted, these specialists can then contribute to the development of other industries, given their existing competencies.
