Head of State Property Management Department reports progress in implementation of presidential assignments and activities scheduled for 2018

At a working meeting held with the President of the Republic of Armenia, Head of State Property Management Department Arman Sahakyan reported progress in the implementation of the assignments given by the President of Armenia at the previous meeting and the activities scheduled for 2018.

In particular, Arman Sahakyan reported that in accordance with the President’s instruction, in order to increase the efficiency of the state-owned companies’ activities, together with the relevant government agencies the State Property Management Department has analyzed in detail the results of the financial and economic monitoring of State-owned companies, the performance of those commercial organizations with deteriorated financial and economic position, the reasons behind the setback and the adequacy of remedial action.

Qualitative criteria for the development of business plans and an evaluation system have been introduced. The model business plan clearly specifies the main economic indicators to be fulfilled.

In accordance with the President’s recommendation, appropriate mechanisms and legal arrangements have been developed to monitor the program indicators of State-run enterprises, ensure transparency in their activities, as well as to evaluate the performance of their executive units.

The Head of State Property Management Department also presented the overview of 2017 activities, the pace of the 2017-2020 privatization plan with a focus on the use of modern technologies and other issues.

The President of Armenia highlighted the application of modern methods and tools in a bid to increase efficiency in the management of State property, as well as to streamline the issues of social importance and comply with the social commitments of privatized companies.

According to Arman Sahakyan, in pursuance of President Sargsyan’s instruction, the Department has been monitoring the privatization and donation of dormitories; the administrative procedures have been simplified and completed. Arman Sahakyan next provided the dynamics of revenues generated from privatization, alienation and leasing of public assets and the real estate registration and registry reform. Arman Sahakyan noted that together with the Ministry of Justice, issues related to the sale of state property within the framework of bankruptcy proceedings were studied. Legal arrangements have been worked out to ensure full implementation of State obligations.

Highlighting the need for completing the planned activities in due course and in a timely manner, the President noted that the aforementioned activities, including the 2017-2020 Privatization Program, are of great importance in terms of raising the effectiveness of State property management and addressing welfare issues through investment-fostered economic activity.