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Re: Armenia's Economic Pulse
I feel like the current administration is cashing out before the constitutional reforms take effect..
I feel like the current administration is cashing out before the constitutional reforms take effect..
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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 HunterComment
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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".
Hayastan or Bust.Comment
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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.
Hayastan or Bust.Comment
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Re: Armenia's Economic Pulse
ARMENIAN IT COMPANIES RETURN FROM EUROPEAN AUTO RACING WITH 300 AGREEMENTS
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 interestsComment
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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 interestsComment
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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/10Politics 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 interestsComment
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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.
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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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