Investor Presentaiton

3 Λ INVESTMENTS AND INNOVATION Investments per Areas 3% Total 13% 18% 17% 39% 28% 44% Medium 7% 42% ■Stock of goods Purchase of machinery and equipment ■Capital repair %6 Staff training Purchase of buildings and constructions Databases/other non-material assets 2012 17% 19% 24% 19% Small %6 Micro 12% 18% 60% 50% 40% 30% 20% 10% 0% (%, in the given group) INVESTMENT SMEs in Armenia MORE OFTEN make SHORT- TERM INVESTMENTS. Compared to 2012, SMEs focus mainly on short-term investments (like WORKING CAPITAL and REPAIR) rather than long-term investments in BUILDINGS AND CONSTRUCTIONS and non-material assets. Source: SME Research in 2019, SME research in 2013, Ameria CJSC 20

View entire presentation