At the same time, Armenia remains heavily dependent on humanitarian aid, mostly wheat, rice and fuel. The U.S. is gradually shifting its assistance efforts towards development programs rather than humanitarian aid. It is engaged in accession negotiations and could be admitted to the WTO as early as this year. Under one of the most comprehensive programs of land reform in the NIS, nearly all agricultural land was privatized, beginning in 1991. Enterprises The 1998-2000 privatization program envisions completing the privatization of nearly all medium and large enterprises by the end of 2000.
New sales are for cash, as the voucher program is no longer in effect.
These companies include the national airline, three hotels, the leading electronics firms, the main mining and metallurgy factories, two major goods and transportation concerns, the companies in construction materials and textiles etc. The privatization of the electricity distribution network, which is up for sale to strategic investors in 2000, is not included in this estimate. The private sector currently accounts for more than three-fourths of Armenia s gross domestic product. In December 1999, the Armenian Government passed three new decrees related to privatization on preparing enterprises to go through the privatization process, on privatization of 20 strategic enterprises of high economic value, and on procedures for carrying out liquidation more effectively. The decrees are aimed at improving and accelerating the privatization process.