USAID works to enhance more inclusive growth in Armenia by supporting competitive industries that generate more productive employment, increase access to markets and finance, and level the playing field for investments, businesses and entrepreneurs. Sustaining inclusive growth entails effective policies, increased regional integration, a diversified economy, an enterprising workforce that can drive future growth, and strategic use of resources. To achieve this, USAID assists the Government of Armenia to:
- improve the enabling environment by specifically targeting areas where Armenia scores poorly and thereby reduce opportunities for corruption; increasing SMEs’ access to finance; and ensuring a reliable, safe and efficient supply of energy and water essential for a strong business climate and regional stability; and
- increase the competitiveness of Armenia’s economy both internationally and domestically; focusing on sectors with the greatest potential—especially for SMEs; developing a workforce that will serve as the engine of growth; and strengthening enterprises within these sectors that can pay the taxes necessary for Armenia to fund its own development.
The Enterprise Development and Market Competitiveness (EDMC) project is designed to raise incomes and employment in Armenia by promoting growth in selected value chains that have export potential. The overall goal is to assist Armenia to develop a more competitive and diversified private sector. To achieve these objectives, the project (1) develops more productive enterprises and value chains by stimulating innovation, (2) enhances workforce skills and entrepreneurial development, (3) improves business environment by reducing regulatory burdens and addressing competitiveness challenges, and (4) facilitates effective financial intermediation.
Innovation Through Technology - This partnership supports innovative startup creation and new product development in the IT sector through providing access to the latest technologies, business and market knowledge, trainings, certifications, targeted coaching, networking, and financial support.
The Entrepreneurship and Civic Activism for Young People program supports hands-on economics and civic education for youth and enhances business and entrepreneurship talents of young Armenians, providing the base for them to become the future skilled labor force and entrepreneurs of Armenia.
Business Environments for Agile Markets (BEAM) - this Washington-managed project provides targeted short-term assistance to the Armenian government and other stakeholders to build their capacity to formulate strategy, and make and implement policy that improves business enabling environment, facilitates trade and investment, and supports enterprise growth.
Support to Rapid Regulatory Simplification - the project provides assistance to the Armenian government in regulatory reform, potentially utilizing the guillotine approach, to stimulate private sector growth, investment and job creation.
Last updated: October 11, 2013