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Re: Armenia's Economic Pulse
YEREVAN, May 19. /ARKA/. At a meeting with president Serzh Sargsyan, Armenia’s acting economic development and investment minister Suren Karayan reported on what has been done to enhance exports and attract fresh investments, the presidential press service reported. It quoted Suren Karayan as saying that his ministry is working to preserve the positive dynamics of economic indicators for the first months of year 2017 and to provide for the future sustainable development.
According to the acting minister, the ministry has set a goal to bring in the coming five years the share of exports in the GDP structure up to 45%. Karayan informed that towards that end industrial areas which possess export potential and development programs of the enterprises had been studied. The later received the necessary assistance from the government to be able to utilize that potential. There also has been created a list of import substituting goods; if sufficient support is provided, they can compete with the imported goods.
Karayan reported also on what has been to win new markets and strengthen and expand the positions on the already existing markets. He spoke, in particular, about the promotion of the Armenian goods at the Eurasian Economic Union (EEU) market, their introduction at major trade chains, steps towards the creation of the EEU common market and establishment of joint production chains. The two men were said also to have discussed the measures and prospects for the utilization of Armenia’s export potential in the framework of the European Union’s GSP+ preferential trade system. According to Suren Karayan, work is underway for a wider use of the export toolbox and in case of necessity for the enhancement of its efficiency.
Karayan informed the president that the program on the improvement of business climate in Armenia for year 2017 has already been drafted. It is expected that after the implementation of the envisaged measures, other things being equal, Armenia’s rating at the World Bank’s Doing Business report will rise from 38 to 26, registering a 12-point improvement. According to Karayan, the aim is to position Armenia in the next 4-5 years among the top 20 countries of that rating.
The acting minister reported to the president of Armenia also on the process of drafting a new law On Foreign Investments which will provide new guarantees for the protection of investments.
Suren Karayan spoke also about the programs related to the investment attractiveness and potential presentation of potential investments and particularly of the platform for investment programs which at the moment presents 55 investment projects. He also informed the president on the process of creating investment funds. According to Karayan, the Syunik free trade zone, which has been created to attract investments, will start functioning in 2017 autumn.
Suren Karayan said also the number of internal tourists will double by the year 2020. The president was said to have issued relevant instructions. -0-
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Finally. 50% is a good target. 75% would be even better. Hopefully these projects include more than just copper and agriculture. I'm talking about exporting IT, Entertainment, and Energy. That's what I'm talking about.
And if this top 20 thing is accurate, that would mean that Armenia would be on the same level as Iceland. Does this mean that we are going to see the level of corruption in Armenia drop to that of the level of Iceland? If this is true, you bet your a$$ I'll be in Armenia.
We just need to get rid of corruption. Bribes are bad. Meritocracy good. Cmon. We can do this.Leave a comment:
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Re: Armenia's Economic Pulse
YEREVAN, May 17. /ARKA/. The latest economic indicators show that Armenia is moving to the stage of steady economic development, deputy economic development and investment minister Hovhannes Azizyan announced today. Speaking at an Armenian-Belgian economic meeting, the minister attributed it to active work with investors and the improving business environment.x
"Discussions with business representatives revealed that we have made progress in the customs and tax areas in addition to reformed legislation, which have created better opportunities for business," he said. According to him, in the last quarter of 2016 investments in Armenia totaled $130 million. In general, in 2016, the investment flow increased by 70%, he said.x
"We do not have data for this year yet, but the monitoring shows that we are going to have the same level growth in the first quarter," Azizyan added.
According to official data, in the first quarter of 2017, economic growth in Armenia grew by 6.7% from the same period last year.
"Today’s task is to win new markets for export of our products and earn high profit, and also secure the necessary business environment for investors," the deputy minister stressed.
The government’s projection of GDP growth for this year is 3.2%. The IMF’s forecast is 2.9%, the World Bank’s is 2.7% and that of EBRD is 2.5%. -0-
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Re: Armenia's Economic Pulse
Mazel tov! Armenia Aircompany Launches Yerevan-Tel Aviv Flights
YEREVAN (Armradio) — The Armenia Aircompany carried the first passengers from Yerevan to Tel Aviv today.
The maiden flight was preceded by a presentation at Zvartnots Airport.
Attending the event were Sergey Avetisyan, Chief of the General Department of Civil Aviation of Armenia, Andranik Shkhyan, Deputy General Manager of Armenia International Airports and Robert Oganesyan, CEO of Armenia Aircompany, directors of tourism agencies and others.
Sergey Avetisyan emphasized the importance of Yerevan-Tel Aviv flights and wished the Air Company safe and effective flights.
The Yerevan-Tel Aviv flights will be run twice a week on Thursdays and Sundays.
http://massispost.com/2017/05/armeni...-aviv-flights/Leave a comment:
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Re: Armenia's Economic Pulse
Federation of Euro-Asian Stock Exchanges relocates HQ office from Turkey to Armenia
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Re: Armenia's Economic Pulse
Intellinews
May 15, 2017 Monday
Iran, Armenia, Russia and Georgia to create chamber of commerce
A joint Iranian, Armenian, Russian and Georgian chamber of commerce
will be created later this year to help the countries boost trade as
part of a wider tie-up of regional economies, Armenpress reported on
May 14.
Iran is looking to connect its railways and highways to its northern
neighbours as part of the North-South Transport Corridor which aims to
connect countries from Russia to India as part of a Eurasian
superhighway.
The announcement of the proposed chamber of commerce followed an
Invest in Armenia conference in Yerevan.
Vruyr Penesyan, coordinator of the Armenian event, said
inter-parliamentary committees have expressed a willingness to support
the chamber.
Active cooperation is also expected with diplomatic representations of
the business chamber's member countries, he added.
The head office of the business chamber is set to be located in Yerevan.Leave a comment:
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Re: Armenia's Economic Pulse
When you go to Armenia, you start noticing how there is about 20 or so types of businesses (flower shop, online betting, cafe, bread shop, sweets shop, pharmacy). You'll see that people really just do the same thing over and over again and that there really isn't must innovation in the marketplace. This is why a lot of these people feel the heat, they're either doing the same thing everyone else is or people are now beginning to copy them. Instead of innovate and compete, they throw in the towel. Which is really ridiculous. She is complaining that other people are making Ghata. Can you imagine? And Hetq gives this person some kind of a platform to express her anger not at the fact that she is ridiculously trying to say that high taxes ruined her ghata making business, but that there is a failure in the armenian marketplace to innovate.Originally posted by Azad View PostLeave a comment:
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Re: Armenia's Economic Pulse
What a joke! Her first lesson in Free Market economy. Sounds like she is looking for monopoly on her pastry.Originally posted by Zeytun View Post
Let he go the Germany and see how low taxes are and how she will compete with multi billion dollar corporations.
She can always rent a shop and see how she will manage. I am sure Germans have been waiting for years for her "Gatah".
Let her get the products in German supermarkets and see how easy it is there.
- First your location has to be inspected once a year by the government
- Your packaging has to be approved by the food safety admin. including the label and ingredients on the label.
- You better have a juicy insurance on your business, the first client that will get sick on your products, they will take over your company.
Complaint, complaint, complaint!Leave a comment:
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Re: Armenia's Economic Pulse
High Taxes and Closed Markets: Businesswoman Leaving Armenia, Taking Pastries and Employees with Her
19:05, May 14, 2017
Satik Achikyan, who’s produced a line of confectionery for years, has decided to leave Armenia and continue the business overseas.
She says that supermarkets, the main market players now, have shut their doors to them. Taxes are too high as well, Achikyan complains.
Achikyan was born in Gavar, a town in the country’s Gegharkunik Province. She believes the gatah (round pastry) she makes, sold under the Gavar brand, is the highlight of her confectionery line.
Eight years ago, she opened a small plant in Yerevan and started producing her pastries. Inviting some women from Gavar to work with her, the new business was christened Satenik Confectionery.
"During the first 6 years, we achieved continuous growth. However, production volumes have drastically dropped during the last two years. The decline is so big that even the turnover tax requirement does not apply to us any longer. We used to produce from 500 kg to 1 ton of pastry. Today, it’s not more than 50 kg. I halted producing this January. I’ve leased the business. They still use my name and brand. They work in small quantities. The market was closed to us. Supermarkets shut their doors on us, because we were not able to provide VAT invoices. In addition, the supermarkets saw the success of our items and started to produce the same, pushing us out of the market, '' says Achikyan.
She says that years ago they collaborated with all the major supermarkets and stores. Today, they only deal with one supermarket and some small shops.
"Do you want an honest opinion? Taxes are too high, that’s why people tend to do business on the sly, without declaring income. Supermarkets claim they cannot work with us because we do not provide VAT invoices. They tell us to go and deal with small companies like ours. And who are those small ones? Small shops are not allowed to breathe; they are closing one after another. "
Satenik Confectionery and other companies are paying turnover tax. But supermarkets asked them to move to VAT-paying, saying that they are now required to receive the necessary documents from the suppliers. This assumes an additional tax burden for small companies. On the other hand, supermarkets have started to produce similar goods of the same quality, and they refuse to buy from small suppliers any longer.
Satik Achikyan plans to move to Germany and start working there. She wants to take her employees with her.
When asked about her expectations from the Armenian government, the businesswoman replied: "I do not have any hope. I knocked on so many doors. None were opened. I’m selling all my assets to move. The business I created in my own kitchen is closing. Why? Because they don’t sit down with us to discuss our problems. We are told from on high to go and find solutions with the companies not selling our product, in other words supermarket managers.”
Well I am posting this story because its just useless. I understand that the system is bad, there is corruption. But we need to stop with these stories "Leaving the country, high taxes, no one helps us". Business fail its simple as that! she had a good business, supermarkets saw the money she was making they decided to do it in-house, she couldn't change the way she conducts her business ( move to VAT), she probably didn't build a strong brand and now her business is suffering THIS IS FAIR GAME.
Now, she is leaving to Germany supposedly to open a new business there, as if Taxes are low in Germany or that there aren't big companies. This is just a silly story.Leave a comment:
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Re: Armenia's Economic Pulse
Using water power for energy is a good way.....US investment also will deter Turkey from damming the rivers in future.Leave a comment:
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