The Armenian authorities approved a subsidy of 50 million drams as support for Ai-Almast CJSC, which is involved in the diamond mining industry, the strategically important sector of Armenia. The money was allocated to provide diamond mining companies with effective raw materials, export products to the EAEU and third countries, as well as in order to introduce new formats of work with the Russian company Alrosa and attract investors to the sphere.

Alrosa expressed a desire to cooperate with a company with state participation, and for this purpose, the state company Ai-Almast was founded. The company acts as a demand consolidation structure with the following mechanism: The Company enters into contracts with diamond companies operating in the territory of the Republic of Armenia, according to which these companies submit applications to Ai-Almast, pay to them, based on which the latter will supply the rough purchased from Alrosa to the beneficiary companies.

According to the estimates of the Ministry of Economy of the Republic of Armenia, as a result of cooperation with the Russian side, the volume of production and export of diamonds in Armenia will annually reach an average of $150 million, while the number of operating large enterprises is 20-25, and the number of employees in the sphere is 5,000.

The precious metals and stones processing in 2021 increased by 70% compared to 2019.