In 2004 in Armenia there were several jewellery companies founded with foreign capital participation. This information was provided by Gagik Mkrtchan, the head of gemstones and jewellery department of the Ministry of Trade and Economic Development of Armenia.

He said that the new companies were founded with the participation of, in particular, Belgium investments. Mr Mkrtchan estimated this event as positive and expressed an opinion that foreign capital participation is necessary in Armenian jewellery sector development.