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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    NEW ARMENIAN AIRLINE PLANS TO START OPERATION IN 2016 MARCH

    YEREVAN, October 9. / ARKA /. A new Armenian airline called "Alliance"
    plans to launch operation in 2016 March. The founder and chief
    executive officer of the company, Ararat Sargsyan, told reporters
    today that two days ago the airline had received the license of the
    Chief Aviation Department and was now seeking to acquire membership
    in IKAO in order to be allowed to operate flights.

    Sargsyan said Alliance had leased two Russia-manufactured Sukhoi
    Superjet - 100 (SSJ-100) aircraft which are now deployed in Zhukovsky
    near Moscow, adding also that the airline plans to bring their number
    up to six by 2017.

    The first flight is scheduled for 27 March, 2016. The airline
    personnel comprise 14 people, all of whom, like Sargsyan himself,
    worked in the past for now defunct Armavia air carrier.

    At the initial stage, the company plans to carry out flights to three
    destinations: Moscow, Beirut and Tehran, and add later more routes
    to other Russian cities and Ashgabat, the capital of Turkmenistan.

    Sargsyan declined to name the investors of the airline, saying only
    they were from Russia.

    In 2013 October the Armenian government liberalized the domestic civil
    aviation sector saying that all local and foreign airlines meeting
    safety standards will be allowed to fly to and from Armenia without
    special authorizations or other restrictions. - 0-

    http://arka.am/en/news/business/new_....V9ZOpm0G.dpuf
    Hayastan or Bust.

    Comment


    • Re: Armenia's Economic Pulse

      EU AUTHORIZED AUTHORIZED TO START NEW TALKS WITH ARMENIA

      by MassisPost October 12, 2015, 2:47 pm

      YEREVAN -- The European Union and Armenia will start negotiations on
      a new legal framework for their relations, it emerged on Monday.

      Armenian Foreign Ministry spokesman Tigran Balayan wrote on his Twitter
      account that "the EU Foreign Affairs Council has authorized the EU
      Commission to launch negotiations with Armenia on a new legal base."

      In a statement released today French Secretary of State for European
      Affairs Harlem Desir welcomed the approval of the negotiating mandate
      for an agreement of cooperation between the European Union and Armenia.

      Brussels and Yerevan have been moving towards the opening of the
      talks since 2013 when Armenia unexpectedly decided to withdraw from
      the process of EU association following more than three years of
      negotiations on a relevant agreement.

      Instead, the government in Yerevan signed up to a Moscow-led customs
      union and became a member of the Eurasian Economic Union (EEU) formed
      by Russia, Belarus and Kazakhstan in January 2015.

      It is expected that the new deal between the EU and Armenia will
      cover concrete areas of political and economic cooperation, but,
      as has repeatedly been stated by the two sides, will not contradict
      Armenia's membership commitments to the EEU.

      Hosting European Council President Donald Tusk in Yerevan in July
      Armenian President Serzh Sarkisian said: "I can't imagine Armenia's
      development without reforms and I can't imagine reforms in Armenia
      without [use of] European experience and assistance... Therefore,
      while being a member of the EEU, we will continue to closely cooperate
      with the EU."

      Tusk, for his part, then said: "Armenia can count on the European
      Union's continued support to advance on a whole range of political
      and social reforms, and to improve the protection and promotion of
      human rights and fundamental freedoms."

      http://massispost.com/2015/10/eu-aut...-with-armenia/
      Hayastan or Bust.

      Comment


      • Re: Armenia's Economic Pulse

        ARMENIA'S EX-PRIME MINISTER TO HEAD EURASIAN ECONOMIC COMMISSION

        October 16, 2015 - 17:21 AMT

        PanARMENIAN.Net - Armenia's former Prime MinisterTigran Sargsyan will
        replace the current head of theEurasian Economic Commission Viktor
        Khristenko. The decision was made on Friday, October 16, at a meeting
        of the Supreme Eurasian Economic Council in Burabai, Interfax reports.

        "We have decided that Armenia will chair the EEC board starting
        February, 2016, with Tigran Sargsyan chairing" Belarusian President
        Alexander Lukashenko said. "Russian President, who has worked with
        Sargsyan in the past, has supported the decision. Known to be an
        experienced specialist, he will begin to work as the EEC head starting
        February 1."

        According to Lukashenko, the Board members reviewed all the 15 issues
        on the agenda, "discussed the prospects of our economic union."

        Belarus is currently chairing the EEC.

        http://www.panarmenian.net/eng/news/199060/
        Hayastan or Bust.

        Comment


        • Re: Armenia's Economic Pulse

          Originally posted by Haykakan View Post
          NEW ARMENIAN AIRLINE PLANS TO START OPERATION IN 2016 MARCH

          YEREVAN, October 9. / ARKA /. A new Armenian airline called "Alliance"
          plans to launch operation in 2016 March. The founder and chief
          executive officer of the company, Ararat Sargsyan, told reporters
          today that two days ago the airline had received the license of the
          Chief Aviation Department and was now seeking to acquire membership
          in IKAO in order to be allowed to operate flights.

          Sargsyan said Alliance had leased two Russia-manufactured Sukhoi
          Superjet - 100 (SSJ-100) aircraft which are now deployed in Zhukovsky
          near Moscow, adding also that the airline plans to bring their number
          up to six by 2017.

          The first flight is scheduled for 27 March, 2016. The airline
          personnel comprise 14 people, all of whom, like Sargsyan himself,
          worked in the past for now defunct Armavia air carrier.

          At the initial stage, the company plans to carry out flights to three
          destinations: Moscow, Beirut and Tehran, and add later more routes
          to other Russian cities and Ashgabat, the capital of Turkmenistan.

          Sargsyan declined to name the investors of the airline, saying only
          they were from Russia.

          In 2013 October the Armenian government liberalized the domestic civil
          aviation sector saying that all local and foreign airlines meeting
          safety standards will be allowed to fly to and from Armenia without
          special authorizations or other restrictions. - 0-

          http://arka.am/en/news/business/new_....V9ZOpm0G.dpuf
          When Singapore government officials fly, they take Singapore airlines (55% owned by the Singapore government). I think Armenian government officials and the future Armenian airline should adopt this practice. If the government is going to be corrupt and use state money to fund their vacations, it should at least go to subsidizing a national air carrier.

          Comment


          • Re: Armenia's Economic Pulse

            armenia the only cis member state recording drop in consumer prices

            http://armenpress.am/eng/news/823368...er-prices.html
            <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

            Comment


            • Re: Armenia's Economic Pulse

              Doing Great in ‘Doing Business’: Armenia savors progress in annual WB rankings

              The World Bank’s Doing Business 2016 report, ranking Armenia 3 positions higher than last year, will give a positive impetus to investors and will improve the country’s business environment, Armenian government officials believe.

              The global rankings released earlier this week put Armenia in 35th place among 189 countries, while by the ease of starting business Armenia is ranked as high as fifth.

              Prime Minister Hovik Abrahamyan dwelled on this progress in his opening remarks at a Cabinet meeting on Thursday. He said this progress was due to reforms carried out by his government recently.

              “During the past year by the number of reforms Armenia was placed among the 14 percent of surveyed economies that carried out three or more reforms,” he noted.

              “Armenia’s progress in the rankings is based on reforms carried out in three directions, in particular, the process connected with construction permits, reduction of time and costs connected with documents relating to trade and border crossing procedures, and the quality of contract enforcement,” Abrahamyan said.

              The head of the Armenian government also said that due to the country’s membership in the Eurasian Economic Union, the time and cost for documentary and border compliance for trade with member states has been reduced. For example, now it takes only three hours for documentation procedures at the borders instead of 50 hours in the past.

              “In terms of starting a business Armenia is among the best countries in the world, occupying 5th place among 189 economies, while in terms of property registration it is in 14th place. In Armenia it takes an entrepreneur three days to start his business. This is an index comparable to Denmark’s. While in the world on the average property is registered within 48 days, in Armenia it takes only seven days,” the prime minister said.

              Armenian government officials believe that the World Bank evaluations will help promote Armenia’s business environment. “Businesses take World Bank as the most credible,” Armenian Economy Minister Karen Chshmarityan told journalists on Thursday, adding, however, that attraction of investments is not determined only by rating lists.

              The minister also referred to another World Bank report, according to which Armenia is among the most monopolized countries among former Soviet and Eastern European countries.

              “Of course, the presence of monopolies is a negative thing, but overall it is not the subject of this [Doing Business] report. If we talk about the overall investment climate, then, of course, the report reflects the true picture,” he said.

              Economic analyst Hayk Gevorgyan, meanwhile, remains skeptical about the reported progress. He observes that the volume of direct foreign investments made in the Armenian economy keeps declining despite reports like Doing Business.

              “When our triumphant ascent began, the volume of direct foreign investments into Armenia’s economy was at the level of $567 million. In 2013, the investments sharply fell by more than 50 percent, down to $271 million,” the analyst writing for the Haykakan Zhamanak daily said. He added that after that the National Statistical Service drastically changed its methodology for calculating the amount of investments.

              “Already by the changed methodology it turned out that in 2013 the volume of investments was not $271 million, but nearly $1 billion. However, by the same methodology in 2014, the volume of direct foreign investment again fell by 14 percent. And in the first half of this year, compared to the same period last year, direct foreign investments fell nearly three times,” Gevorgyan concluded.

              http://armenianow.com/economy/67380/...ess_government

              ---

              If they could just tackle and reform Taxes in Armenia, flush out the corruption and make a fair and honest tax code, we'll be in the Top 30.

              Comment


              • Re: Armenia's Economic Pulse

                Originally posted by HyeSocialist View Post
                Doing Great in ‘Doing Business’: Armenia savors progress in annual WB rankings

                The World Bank’s Doing Business 2016 report, ranking Armenia 3 positions higher than last year, will give a positive impetus to investors and will improve the country’s business environment, Armenian government officials believe.

                The global rankings released earlier this week put Armenia in 35th place among 189 countries, while by the ease of starting business Armenia is ranked as high as fifth.

                Prime Minister Hovik Abrahamyan dwelled on this progress in his opening remarks at a Cabinet meeting on Thursday. He said this progress was due to reforms carried out by his government recently.

                “During the past year by the number of reforms Armenia was placed among the 14 percent of surveyed economies that carried out three or more reforms,” he noted.

                “Armenia’s progress in the rankings is based on reforms carried out in three directions, in particular, the process connected with construction permits, reduction of time and costs connected with documents relating to trade and border crossing procedures, and the quality of contract enforcement,” Abrahamyan said.

                The head of the Armenian government also said that due to the country’s membership in the Eurasian Economic Union, the time and cost for documentary and border compliance for trade with member states has been reduced. For example, now it takes only three hours for documentation procedures at the borders instead of 50 hours in the past.

                “In terms of starting a business Armenia is among the best countries in the world, occupying 5th place among 189 economies, while in terms of property registration it is in 14th place. In Armenia it takes an entrepreneur three days to start his business. This is an index comparable to Denmark’s. While in the world on the average property is registered within 48 days, in Armenia it takes only seven days,” the prime minister said.

                Armenian government officials believe that the World Bank evaluations will help promote Armenia’s business environment. “Businesses take World Bank as the most credible,” Armenian Economy Minister Karen Chshmarityan told journalists on Thursday, adding, however, that attraction of investments is not determined only by rating lists.

                The minister also referred to another World Bank report, according to which Armenia is among the most monopolized countries among former Soviet and Eastern European countries.

                “Of course, the presence of monopolies is a negative thing, but overall it is not the subject of this [Doing Business] report. If we talk about the overall investment climate, then, of course, the report reflects the true picture,” he said.

                Economic analyst Hayk Gevorgyan, meanwhile, remains skeptical about the reported progress. He observes that the volume of direct foreign investments made in the Armenian economy keeps declining despite reports like Doing Business.

                “When our triumphant ascent began, the volume of direct foreign investments into Armenia’s economy was at the level of $567 million. In 2013, the investments sharply fell by more than 50 percent, down to $271 million,” the analyst writing for the Haykakan Zhamanak daily said. He added that after that the National Statistical Service drastically changed its methodology for calculating the amount of investments.

                “Already by the changed methodology it turned out that in 2013 the volume of investments was not $271 million, but nearly $1 billion. However, by the same methodology in 2014, the volume of direct foreign investment again fell by 14 percent. And in the first half of this year, compared to the same period last year, direct foreign investments fell nearly three times,” Gevorgyan concluded.

                http://armenianow.com/economy/67380/...ess_government

                ---

                If they could just tackle and reform Taxes in Armenia, flush out the corruption and make a fair and honest tax code, we'll be in the Top 30.



                .
                Politics is not about the pursuit of morality nor what's right or wrong
                Its about self interest at personal and national level often at odds with the above.
                Great politicians pursue the National interest and small politicians personal interests

                Comment


                • Re: Armenia's Economic Pulse

                  IRAN MAY FORM ECONOMIC TIES WITH EEU COUNTRIES VIA ARMENIA: OFFICIAL

                  November 9, 2015 - 18:08 AMT

                  PanARMENIAN.Net - Tehran seeks to establish economic ties with the
                  EEU member states via Armenia, Iran's Minister of Information and
                  Communications Technology said, according to ISNA news agency.

                  Mahmoud Vaezi met Monday, November 9, with Armenian Economy Minister
                  Karen Chshmarityan in Tehran.

                  "Armenia is an EEU member, which gives us the opportunity to export
                  Iranian goods to Russia and other member states," Vaezi noted.

                  According to the chief of the Armenia-Iran Joint Chamber of Commerce
                  (AIJCC), Levon Aharonian, the visit aims to boost trade and business
                  cooperation.

                  Referring to the prospects of Tehran-Yerevan trade ties, Aharonian
                  noted that Iran-Armenia trade volume amounted to $400 million in March
                  21, 2014- March 21, 2015, expressing hope that the figures will be
                  improved in the future.

                  http://www.panarmenian.net/eng/news/200330/
                  Hayastan or Bust.

                  Comment


                  • Re: Armenia's Economic Pulse

                    BUSINESSES IN ARMENIA'S BORDER AREAS TO BE EXEMPTED FROM TAXES

                    YEREVAN, November 13. /ARKA/. The National Assembly of Armenia passed
                    Thursday at the first reading amendments to the tax privileges for
                    companies operating in border rural areas.

                    Emil Tarasyan, the deputy economy minister, said that the law was
                    adopted yet in 2014, but it applied only to villages, not cities.

                    In his words, the aim of the introduction of tax exemption for
                    businesses in border areas is to spur economic activities and enhance
                    investment attractiveness here.

                    The law exempts entrepreneurs in border areas from paying VAT as well
                    as income and profit taxes.

                    Now 450 organizations in 31 rural border communities enjoy this
                    preference. ---0----

                    http://arka.am/en/news/business/busi...d_from_taxes_/
                    Hayastan or Bust.

                    Comment


                    • Re: Armenia's Economic Pulse

                      ARMENIA TO RECEIVE $25 MILLION CHINESE LOAN TO IMPORT CUSTOMS CONTROL EQUIPMENT

                      YEREVAN, November 13. /ARKA/. The Armenian parliament ratified on
                      Friday a framework preferential loan agreement signed with China in
                      March 2015. According to deputy finance minister Vakhtang Mirumyan,
                      under the agreement Armenia will be provided with 56 million RMB
                      (about $25 million.). He said the loan is repayable within 20 years
                      with a 5-year grace period. The interest rate is 2% per annum.

                      Mirumyan said the funds will be provided exclusively in the form
                      of equipment for a program designed to modernize Armenia's customs
                      administration. According to him, it will help significantly increase
                      the productivity of the customs control and reduce the time of
                      customs clearance.

                      Mirumyan specified that China will provide equipment for the customs
                      control of goods shipped by rail, which currently Armenia does not
                      possess.

                      "This equipment will allow for customs clearance by means of X-ray
                      technology at the time of train movement at a speed of 30 km/h,'
                      Mirumyan said.

                      According to him, Armenia will also receive Chinese mobile scanners
                      which are required at customs warehouses enabling checks in customs
                      control zones without opening the cargo and physical control of
                      goods, which significantly reduce the time of inspection and customs
                      clearance.

                      "Continuous monitoring will considerably improve the efficiency of
                      customs control," he said. -- 0--

                      http://arka.am/en/news/technology/ar...rol_equipment/
                      Hayastan or Bust.

                      Comment

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