YEREVAN (Noyan Tapan)–Enterprise owners believe Armenia’s current monetary policy is unfavorable to the country’s industrial development. Andranik Gasparian–manager of Yerevan’s "Vahan" industrial enterprise–believes that "it isn’t easy for a producer to obtain credits." Gasparian said that the Armenian producer is not protected by law–and export deals are not properly guaranteed. It is the absence of guarantees that brings about widespread protectionism in the country. The country lacks clear mechanisms of compensating for losses incurred by producers at somebody else’s fault.
The "Vahan" industrial enterprise is the only enterprise in the region producing toys for the New Year’s trees. According to Gasparian–the quality and design of their products meet not only the requiremen’s of the domestic market but also those of the European market. If funds for expanding output are procured–the enterprise will be able to produce and market 120 million toys a year. Large commercial firms in France and the United States are prepared to buy Armenian toys. The enterprise currently sells its products on the local market–as well as in Russia–Georgia and Ukraine. Speaking of the enterprise’s long-term prospects–Gasparian announced plans to buy one of the idling enterprises to set up production of toys alongside drug ampoules. The enterprise uses locally procured raw materials in its production. If such an operating capacity is maintained–the enterprise will provide 800 jobs.