Armenia to make it easier to get funding for weapons development

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YEREVAN, 1 August. /ARKA/. The Armenian government today approved a package of amendments to the law On Military-Industrial Complex, designed to simplify obtaining funds for weapons development./pp

According to Minister of High Technology Industry Mkhitar Hayrapetyan, now to receive funding, companies must fully complete the cycle of research and development work, while in fact research and development work is often unnecessary./pp

The proposed changes will allow companies to get access to financing in cases when a company needs to get funds only for research and development, the minister said./pp

He also noted that a large number of experimental samples are needed for testing, and the budget of the military-industrial complex industry does not allow to allocate the necessary resources for financing in the required quantity./pp

In this regard, companies are now looking for funds to independently create prototypes. Therefore, it is proposed to allocate additional funding for such needs./pp

In addition, the changes suggest that the government will begin to purchase and stockpile strategically needed components, which will ensure uninterrupted production in the absence of foreign supplies. -0-/p br