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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    I feel like the current administration is cashing out before the constitutional reforms take effect..

    Comment


    • Re: Armenia's Economic Pulse

      Originally posted by Haykakan View Post
      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_/
      This law can be easily abused.

      Comment


      • Re: Armenia's Economic Pulse

        ^^^^its Ok. the border villages will profit which translates into growth. I think its a good move by National Assembly.
        I wished I was tax free.
        B0zkurt Hunter

        Comment


        • Re: Armenia's Economic Pulse

          ARMENIA- U.S. COUNCIL ON TRADE AND INVESTMENT HOLDS FIRST MEETING IN YEREVAN

          16:53, 17 Nov 2015
          Siranush Ghazanchyan

          The first meeting of the Armenia-U.S. Council on Trade and Investment
          was held in Yerevan on November 17, 2015.

          This Council was established in May 2015 under a Trade and Investment
          Framework Agreement (TIFA) between the Government of the Republic
          of Armenia and the Government of the United States of America for
          further strengthening and deepening of the Armenian-American economic
          cooperation, as well as expansion of turnover of products and services
          between two countries.

          The Armenian delegation was headed by Karen Chshmaritian, Minister of
          Economy of RA, while the u.S. delegation was led by Elizabeth Hafner,
          Deputy Assistant U.S. Trade Representative.

          The Council on Trade and Investment included a high-level U.S.

          delegation from the U.S. Department of Commerce, Department of State
          and the trade representative's office. The meeting was attended by
          the Ambassador Extraordinary and Plenipotentiary of the United States
          of America to the Republic of Armenia H.E. Mr. Richard Mills.

          >From the Armenian side the meeting was attended by the Deputy
          Minister of Economy Garegin Melkonyan, Deputy Minister of Labor and
          Social Affairs Arayik Petrosyan, representatives from the Ministry of
          Foreign Affairs, Economy, Finance, Agriculture, Development Foundation
          of Armenia, Chamber of Commerce, the Union of Manufacturers and
          Businessmen (Employers) of Armenia, the American Chamber of Commerce
          in Armenia (AmCham) and other interested institutions.

          Addressing the meeting, Armenian Economy Minister Karen Chshmaritian
          said: "Armenia is ready to become a center of interests for
          international business community, adding traditional Armenian
          hospitality to the favorable conditions for business activities. In
          this context I would propose to consider the opportunities to establish
          headquarters of international companies in Armenia, especially
          considering, that the U.S. investors have already appreciated the
          opportunities of Armenia, particularly in the spheres of tourism,
          information and high technologies, consulting".

          The perspectives and opportunities of the growth of mutual trade and
          investment between Republic of Armenia and the United States were
          discussed. On the agenda were discussions on intellectual property
          rights, customs clearances, technical barriers to trade, sanitary
          measures for agriculture, investment promotion efforts, private sector
          engagement, government procurement, WTO Trade Facilitation Agreement,
          and environmental and labor issues.

          "By identifying and addressing these technical issues, we will deepen
          the trade relationship between the U.S. and Armenia," said U.S.

          Ambassador to Armenia Richard Mills.

          In addition to the bilateral meeting, a roundtable discussion was
          held with interested private sector stakeholders. This was the first
          such meeting, with plans to continue them annually.

          "Business leaders and the private sector play an important role in
          policy and regulatory decision-making," Ambassador Mills said. "This
          roundtable discussion helped provide an opportunity for stakeholders
          to consult on the on-going trade discussions."

          A joint action plan outlining further steps for promoting mutual
          trade and investment, as well as expanding areas of cooperation is
          expected to be adopted at the outcome of the meeting.

          The Minister of Economy Karen Chshmaritian expressed confidence that
          "Trade and Investment Framework Agreement (TIFA) signed between
          the Government of the Republic of Armenia and the Government of the
          United States of America creates new opportunities for promotion of
          investment and trade between two countries, expanding existing areas
          of cooperation, identifying new areas of cooperation".

          http://www.armradio.am/en/2015/11/17...ng-in-yerevan/
          Hayastan or Bust.

          Comment


          • Re: Armenia's Economic Pulse

            "MY ARMENIA" PROJECT TO SUPPORT CULTURAL HERITAGE TOURISM

            15:47, 20 Nov 2015"
            Siranush Ghazanchyan

            The United States Agency for International Development (USAID) and
            the Smithsonian Institution have partnered for an innovative project
            to support cultural sustainability through cultural tourism in Armenia.

            The project was launched on November 20 at an official ceremony at
            the Matenadaran Scientific Research Institute of Ancient Manuscripts
            in Yerevan, which holds one of the world's richest collections of
            medieval manuscripts and books.

            The ceremony included remarks by the U.S. Ambassador to Armenia
            Richard Mills, Jr., Prime Minister of Armenia Hovik Abrahamyan,
            and the Senior Advisor of the Smithsonian's Office of International
            Relations, Halle Butvin. About 100 people attended the event, including
            representatives of the Government of Armenia, the private sector and
            the tourism industry at large.

            The goal of the four-year project, which is funded by USAID, is
            to enhance and increase cultural heritage tourism in the regions
            outside of Armenia's capital Yerevan, through a unique combination of
            research, scholarship, support for artisan craft, capacity building,
            and a strong focus on fresh thinking for tourism development.

            "The global tourism market continues to grow and touch new
            destinations. Armenia's rich cultural heritage, unique cuisine,
            beautiful natural environment and welcoming people make it a special
            place," said Ambassador Mills.

            "The purpose of the "My Armenia" project is nothing less than to put
            Armenia on the map as a world-class tourist destination. We intend
            to not only contribute to the development of the tourism industry in
            Armenia, but also ensure that the benefits of that growth are widely
            distributed across the country by promoting tourism to regions outside
            of Yerevan, thus enhancing the economic prospects of Armenia's rural
            communities."

            The Smithsonian has a long history of working with communities
            around the world to support efforts in cultural sustainability,
            whether protecting cultural heritage threatened by human conflict
            and natural disaster, or supporting the long-term sustainability of
            diverse cultural sectors.

            Through training, programming, community engagement and documentation,
            and other methods, Smithsonian curators and project staff from across
            the Institution will work with partners in Armenia to develop new
            strategies for sustaining cultural heritage.

            This project will support traditional arts, crafts and music in the
            country and lead to greater benefits for rural communities in Armenia,
            broader awareness about Armenia in international markets, as well as
            help protect and enhance Armenia's natural and cultural heritage.

            "Tourism can be a driver of economic development by generating
            employment in hotels and restaurants, as well as increasing
            business for taxi drivers, those making and selling souvenirs, or
            those providing goods and services to tourism-related businesses,"
            Ambassador Mills said.

            "However, to spread the wealth generated by tourism, Armenia needs to
            develop anchor tourism sites outside of Yerevan and link them together
            in a tourism circuit that spans the length and breadth of the country.

            This new project will provide technical assistance to develop such a
            circuit, which will encourage travelers to travel outside of Yerevan
            and spend more money in the regions. This is just one of the many ways
            the U.S. Embassy is partnering with the Armenian people to strengthen
            the economy of Armenia's rural regions."

            The Smithsonian has a long history of working with USAID
            on international programming to support the conservation of
            biodiversity, museum workforce capacity building, and emerging
            cultural institutions. Reflecting a renewed partnership between the two
            organizations established through a 2013 Memorandum of Understanding,
            the "My Armenia" project signifies a new, collaborative approach to
            combine the strengths of the two organizations for greater impact.

            http://www.armradio.am/en/2015/11/20...itage-tourism/
            Hayastan or Bust.

            Comment


            • Re: Armenia's Economic Pulse

              ARMENIAN IT COMPANIES RETURN FROM EUROPEAN AUTO RACING WITH 300 AGREEMENTS

              http://armenpress.am/eng/news/826513...greements.html

              12:32, 20 November, 2015

              YEREVAN, NOVEMBER 20, ARMENPRESS. Armenia's IT sector's race
              participants returned with more than 300 preliminary agreement s. As
              "Armenpress" reports, the organizers introduced the results of a
              month-long journey and emphasized the further activity.

              The European auto racing ICT" project was passed from October 4 to
              November 5. The program was attended by 36 delegates from the 26 ICT
              companies. The car race included 18 countries. The project has been
              organized 12 and more than 30 official individual meetings in Vienna,
              Katowice, Prague, Berlin, Paris, Marseille, Zagreb, Milan, Belgrade
              and Sofia.

              Deputy Minister of Economy Emil Tarasyan mentioned that this is not
              just a format of information technology achievements, but it was a
              good format for presenting Armenia favorable investment climate which
              must be continual involving the economy's other sectors.




              Published on 20 Nov 2015

              On October 4, 2015 Armenian ICT European Expedition delegation set out for a 32 day business trip through Europe. The delegation had a number of successful meetings in Vienna, Katowice, Prague, Berlin, Brussels, Paris, Marseilles, Milan, Zagreb, Belgrade and Sofia. As a result of meetings about 300 preliminary agreements and arrangements were made with the European Counterparts. The video material presented is the short overview of the whole trip in Europe. The continuation of the project will be in 2016 at USA and Canada!

              Armenian ICT European Expedition was initiated by Technology and Science Dynamics in partnership with New Technology Education Fund with the support of the RA Government, namely with the support of the RA Ministry of Economy, RA Ministry of Foreign Affairs and RA Ministry of Diaspora. Additionally, the project was supported by the Government of Nagorno Kharabakh, Resso, Altacode, Arpinet companies, as well as with the financial support of Loft and Citymobile companies.

              .
              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



                Published on 16 Sep 2015

                Technology and Science Dynamics has built an advanced display manufacturing facility in one of the two Free Economic Zones of the Republic of Armenia with capabilities in R&D and high-level product design, manufacturing and assembly. TSD High-Tech Manufacturing Plant is the first and the only facility in CIS, Caucasus and Middle East with the abilities to produce various types of high-tech electronics and provide high-level research and development service.

                .
                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



                  Introduction "Mergelyan" Club

                  Published on 16 Sep 2015

                  New Technology Education Fund in partnership with Technology and Science Dynamics implements meeting-discussions, project presentations with young researchers, scientists and techies by supporting them in the realization of their innovative ideas. Even when they seem impossible or when they require significant financial investments.

                  Follow the Club Activities: http://ntefund.am/en/our-projects/show/10
                  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

                    Is the world to blame for the underdevelopment of Armenia?

                    Nov 23 - 1:11 pm Susanna Petrosyan, Yerevan. Exclusively for Vestnik Kavkaza

                    The Armenian parliament is discussing the draft of the state budget for 2016. The draft requires real growth of GDP at a level of 2.2%, inflation at a level of 4% and the budget deficit at a level of 3.5% of GDP. An increase in salaries and pensions is not required. The balance between foreign debt and GDP may reach 50%. Revenues are planned at a level which is lower than in 2015, while the expenditures of the state project will exceed the similar index of 2015 by 68.1 billion drams ($1=480 drams). Prime Minister Hovik Amrahamyan stated that the principles of realism and stability lie at the basis of the document – the draft has a clear social direction, which is confirmed by the fact that half of the whole volume of budget expenditures will be spent on education, social security and healthcare.

                    Many experts are worried about the fact that for the first time in the last 10 years a decline has been registered in the revenue part of the budget. Specialists pay attention to the growing problems with the foreign debt, and its volumes may exceed 50% of GDP. According to the economist Vilen Khachatryan, the country will enter 2016 with a debt of $5.122 billion; it is $680 million bigger than the sum at the beginning of 2015: “The budget requires paying 99 billion drams in interest. 2016 is a year for providing economic growth at the expense of debts, and the pace of growth will gradually reduce. How can we speak about development?”

                    The economist Ashot Yegizaryan has similar views. According to him, the state has no sources for fulfilling its duties on existing debts, yet it creates new debts: “Indexes of the state budget draft for 2016 indicate that Armenia is entering a phase which doesn’t provide economic growth. In reality, we are in a recession.”

                    The Finance Minister, Gagik Khachatryan, thinks that it is difficult to imagine that all problems will be solved due to the indexes required by the draft: “Unfortunately, there is no such opportunity.” According to him, the reasons for the negative trends in the economy are certain objective internal factors, such as a decrease in the consumption level and economic activity, as well as several external factors – a reduction in investments, problems in the Russian economy, a decrease of transfers from Russia.

                    Over the past years, representatives of the Armenian authorities, some experts and the government-controlled media have been actively promoting the idea that the majority of the economic problems of the country are explained by external factors. Previously, all the troubles were connected with the world financial crisis; today Russia is called the center, as its economy greatly influences the Armenian economy.

                    Some ministers of the economic bloc refer to the unpredictability of the consequences of Armenia’s membership of the Eurasian Economic Union (EAEU). However, two years ago, when the President decided to join the EAEU, there were absolutely the opposite assessments. Such a turn in approach cannot be called responsibility for decisions taken. However, problems in the Armenian economy existed long before it joined the EAEU. For example, the growing influence of monopolies and the absence of real competitive conditions in Armenia cannot be connected with the current problems in Russia or with its membership of the EAEU.

                    “I have participated in parliamentary discussions of the state budget draft four years in a row. And each time I hear one and the same phrase – that the slow pace of economic growth is connected with external factors. Our country is not developing, and it is not the world’s fault. In 2008 Serzh Sargsyan became the president and promised economic growth of 7%, but in general, summing up all these years, we have economic growth at a level of 15.4%. It is a disaster; our country doesn’t move forward,” the opposition MP, former Prime Minister Grant Bagratyan says. According to him, the budget has grown by only 6% over the past 9 years. “We should deduct the total inflation of 55% over 9 years from 61% of the budget growth in the national currency. It appears that the real growth of the budget is only 6% over the past years,” Bagratyan says.

                    According to the economist Vaagan Khachatryan, the draft budget for 2016 reveals the incompetence of the current economic system: “The policy provided by the authorities cannot provide either economic growth or attract investment. A favorable environment, which is absent, is needed for investments. There are no effective state institutions, no independent court system, or trust in the system in general. The budget draft’s content is absolutely uninteresting.”

                    The former Foreign Minister, an MP from Prosperous Armenia Faction, Vardan Oskanyan, thinks that economic growth can be provided, despite any external factors: “It is necessary to focus on economic growth, providing a broad monetary and fiscal policy, even if the deficit grows. A certain concept and a program of the country’s development are necessary for a successful fulfillment of the policy.”

                    However, the government hasn’t found the political will to write a real program for the country’s development, to take measures to encourage economic growth, including reforms and implementation of programs for development of infrastructure; the authorities also cannot restore the trust of investors and the population. As a result, over the past 7-8 years, the government blames its failures or passivity on external factors.

                    http://vestnikkavkaza.net/analysis/I...f-Armenia.html

                    Comment


                    • Re: Armenia's Economic Pulse

                      VISA FREE REGIME BETWEEN ARMENIA AND BRAZIL ENTERS INTO FORCE

                      20:55, 25 November, 2015

                      YEREVAN, NOVEMBER 25, ARMENPRESS. The agreement on visa free regime
                      between Armenia and Brazil entered into force. "Aremenpress" reports
                      the official Facebook page of MFA Armenia informs about this.

                      According to the agreement reached between the Governments of the
                      Republic of Armenia and Federal Republic of Brazil, the citizens
                      of Armenia and Brazil are exempt from the requirement to obtain an
                      entry visa for entering the territories of one another, leaving it
                      and using it as a transit route starting from November 25. The visa
                      free regime is valid for 90 days and can be extended for another 90
                      days with the condition that the overall period of remaining in the
                      country must not exceed 180 days during 12 months.
                      Hayastan or Bust.

                      Comment

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