Armenia has announced plans to allocate 150 billion drams (approximately $400 million) to the development of its defence industry for the 2026–2028 period, in a significant move to strengthen its national security.
The Armenian Defence Minister Suren Papikyan, said the decsion marks a major step towards improving the country's military capabilities and fostering local defence production.
The allocation comes as part of a broader strategy to diversify Armenia's military procurement markets and reduce reliance on foreign suppliers.
The government says it has recognised the growing need to boost domestic production and increase the availability of locally manufactured military equipment.
Papikyan underscored the importance of creating a more self-sufficient defence sector and highlighted the progress Armenia has already made in this area.
He noted that, in 2022, the government signed contracts worth 5.5 billion drams with local companies. However, the current agreements have grown substantially, reaching a total of 170 billion drams, with the majority of the products already delivered.
This financial commitment signals Armenia's long-term investment in its defence infrastructure, which is crucial given the region's security dynamics. It also represents a shift towards developing a robust defence industry that can meet both current and future military needs.
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