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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    Originally posted by arakeretzig View Post

    self-destruction is continuing. How will we look about at this period in 100 years and who will we blame.
    A lot of the folks have just built a complex in their heads that they need to leave Armenia. My last trip to Armenia included people constantly talking about coming to the USA and Russia. They see people that migrate to the USA who drive a taxi or a truck popping champagne bottles and they think that the living here is great. They all know about welfare programs and other "fast money" schemes. I found it insulting that the majority wanted to come to the USA for welfare programs, but ironically none would go to Sweden for even better welfare programs. I keep saying that it is the fault of the Diaspora that enables mass emigration from Armenia.

    The thing is, your average Armenian has in their mindset the same mentality as many midwesterners in the USA that I've encountered. On their minds, the only thing is to "get out." The very act of leaving Armenia or Ohio to them is seen as a major accomplishment. The act of living in Los Angeles, even though you're drowning in debt and drive a salvaged car, is seen as a life's accomplishment. To speak to these people and tell them that they are better off in Armenia developing themselves and their lands is as if you're hiding from them the greatest treasure in the world and only want it for yourself.

    I met Syrian Armenians that move to Armenia. They all work hard and try to make a living. I feel for them, but they do their best and get by.Your average hayastansi is an entitled little kid that refuses to grow up and constantly dreams of running away from home.


    • Re: Armenia's Economic Pulse


      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


      • Re: Armenia's Economic Pulse

        China To Donate More Ambulances To Armenia
        May 11, 2017

        Armenia - An ambulance in Yerevan donated by the Chinese government.

        China will donate 200 new ambulances to Armenia soon as part of its
        continuing economic assistance to the country, the Armenian government
        said on Thursday.

        The government announced the impending donation as it approved a draft
        Chinese-Armenian agreement on "technical-economic cooperation" at a
        weekly session in Yerevan chaired by Prime Minister Karen Karapetian.

        "After the delivery of these vehicles, the Armenian side will be able
        to fully satisfy domestic demand for ambulances," read a government
        statement issued after the meeting.

        The statement noted that the Chinese government already provided
        Armenia with 88 such vehicles several years ago.

        Armenia - Chinese buses donated to Yerevan's public transport system,

        Armenia has received Chinese economic aid on an annual basis ever
        since 1999. It totaled $37 million between 2012 and 2014, according to
        the Armenian Foreign Ministry. That included an $11 million grant
        provided in 2013 for the construction of a Chinese school in Yerevan
        and the purchase of equipment for the Armenian customs service.

        In 2012, Beijing also donated 250 brand new Chinese-manufactured buses
        to Yerevan's public transportation system.

        China's President Xi Jinping and his Armenian counterpart Serzh
        Sarkisian agreed to deepen ties between their nations then they met in
        Beijing in 2015. In a joint statement, they noted "mutual
        understanding on issues relating to pivotal interests and concerns of
        the two countries."

        A high-ranking Chinese military official visited Yerevan last month,
        holding talks with Defense Minister Vigen Sargsian and the chief of
        the Armenian army staff, Lieutenant General Movses Hakobian. The
        Armenian Defense Ministry said they reached agreements on "expanding
        cooperation and implementing a number of mutually beneficial
        Hayastan or Bust.


        • Re: Armenia's Economic Pulse

          ONEX launched online platform for selling exclusively Armenian production to Russian customers.

          The company informs that this is the first similar platform in Armenia.x The system allows customers from Russia to buy directly from the manufacturer at prices almost equal to the Armenian retail rates.

          “Onex Market gives large, medium and why not small manufacturers the unique opportunity to sell their products out of the country without being engaged in the organizational processes of export and delivery costs.

          Several months of preparatory works resulted in the creation of a website, which meets all the standards of international online trade and has more than thousand product names, including Armenian shoes, carpets, backgammon and chess, natural cosmetics, technics, leather and handmade goods,” the company’s message reads.

          Being the official representative of Pony Express Russian postal service in Armenia, “guarantees fast and reliable delivery of purchased goods to any address in Russia.”

          Within the frames of this initiative ONEX Market together with Idram online payment system developed a totally new for Armenia mechanism of money distribution among several bank accounts during the international transaction. Thanks to this mechanism, the manufacturers can see the order details and transferred money in his/her account within seconds after the transaction. x

          The company founders aim at creating the Armenian analogue of world famous ebay. If now the ONEX Market staff fills the website assortment, then the manufacturers will have their own “seller’s page” after the second release, which will allow them to moderate their product lists.

          The platform will start selling to USA and Europe in the nearest months.

          ONEX expresses hope that its project will help raise the level of export of Armenian production and make it more recognizable

          Hayastan or Bust.


          • Re: Armenia's Economic Pulse

            Seven leading US companies interested in investing in Armenia’s energy sector
            13:10, 12 May, 2017
            YEREVAN, MAY 12,
            YEREVAN, MAY 12, ARMENPRESS. Seven American companies are willing to invest in Armenia’s renewable energy sector. More substantial discussions on th...

            Seven American companies are willing to invest in Armenia’s renewable energy sector. More substantial discussions on their intentions and interests will be held on May 17 during the renewable energy conference in Armenia.

            Matthew Eussen, head of the political and economic department of the US Embassy in Armenia, told ARMENPRESS the renewable energy conference is the continuation of those efforts which are aimed at strengthening economic ties between Armenia and the US. According to him, the energy sector is a growing sector in Armenia, and renewable energy – namely solar and wind energy, have great potential here.
            “During this conference we present 7 leading American companies, which are interested in the market, and the interest can be the foundation for establishing partnership. This conference gives practical opportunities for companies to see what potential exists, how they can work and take practical steps, in the direction of constructing 55 megawatt solar stations and installing solar batteries on rooftops.

            In terms of other possibilities, real and practical steps are ready to be made”, he said, adding a tender process will be held for building the 55 megawatt station, and from the submissions the best design proposal will be selected, which will have the chance to carry out the work.
            Eussen said an average of 200 million dollars is invested for building this kind of stations, while the construction works and new jobs bring additional benefit to boosting the country’s economy. According to him, a greater interest exists among American companies towards Armenia’s energy system.

            As a successful business operation of an American company in Armenia, Eussen pointed out Contour Global’s acquisition of the Vorotan hydro cascade. He also noted that Armenia is planning to carry out energy exchange with Georgia, which means the market isn’t limited only with Armenia, it becomes bigger and wider.

            The conference is organized by Contour Global and Ameriabank. Matthew Eussen also added that in addition to the energy branch, US companies are also interested in the mining and agriculture branches of Armenia. “By working with the Armenian government, we try to ensure favorable conditions in order for the business environment to be interested in making investments”, he said.


            • 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.
              B0zkurt Hunter


              • 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.


                • Re: Armenia's Economic Pulse

                  Originally posted by Zeytun View Post
                  High Taxes and Closed Markets: Businesswoman Leaving Armenia, Taking Pastries and Employees with Her
                  What a joke! Her first lesson in Free Market economy. Sounds like she is looking for monopoly on her pastry.
                  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!


                  • Re: Armenia's Economic Pulse

                    Originally posted by Azad View Post
                    What a joke! Her first lesson in Free Market economy. Sounds like she is looking for monopoly on her pastry.
                    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!
                    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.


                    • Re: Armenia's Economic Pulse

                      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

                      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.
                      Hayastan or Bust.