ArmInfo. Driven by targeted state policy, Armenia has achieved notable progress in the development of its military-industrial complex (MIC) over the past several years. Mkhitar Hayrapetyan, the Minister of High-Tech Industry, announced the milestone on June 3 during the opening of the RISE forum and exhibition.
According to him, a key driver of this expansion is a three-year state procurement initiative designed to support domestic defense manufacturers fulfilling contracts for the Ministry of Defense.
"Gradually, there came an understanding that this sector could become a strategic pillar for Armenia's economic development, leveraging our existing scientific, engineering, and technological potential," Minister Hayrapetyan noted, adding that the program has effectively fostered a brand-new segment within the domestic economy.
"Today, the annual turnover of the military-industrial complex has reached 70 billion drams. The industry is expanding beyond the domestic market and is beginning to strengthen its position internationally," Hayrapetyan said. He noted that Armenian defense products are progressively evolving into a major export sector, revealing that new contracts worth tens of millions of dollars are currently being finalized with new international partners.
"The decision to support the military-industrial complex was a turning point for the industry. At the same time, we understand that we are only at the beginning of a long journey," the head of the ministry stressed. For his part, Armen Baldryan, Chairman of the Union of Information and Communication Technologies Employers of Armenia, stated that the country has no alternative to developing its own high-tech industry. "This is not just a standalone sector, but the locomotive of the entire economy. It is Armenian production that must become the driving force behind increasing productivity, boosting competitiveness, and strengthening the country's position in the global economy," Baldryan noted.
According to Baldryan, the RISE forum is intended to become a platform for cooperation between Armenian companies and the formation of fully integrated production chains. "It's especially important that the first results of this cooperation are already visible in the defense industry. We are proud that competitive manufacturing is emerging in Armenia today, and we are confident that its potential is far from exhausted," the head of the Union said.
