Armenia's Economic Pulse

[londontsi]

Re: Armenia's Economic Pulse

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[Haykakan]

Re: Armenia's Economic Pulse

Yerevan /Mediamax/. Armenian Prime Minister Karen Karapetyan said today that he attaches great importance to further development of ties with the European Union, which are based on shared values.

Prime Minister said this at the meeting with the Head of the European Union Delegation to Armenia, Ambassador Piotr Switalski.

Karen Karapetyan stressed that the Armenian Government is prepared to advance collaboration with the EU in economic cooperation, democracy, human rights, efficient management, etc.

Upon remarking that the 5th phase of the negotiations on the new EU-Armenia Framework Agreement will be held soon, Armenian PM expressed his confidence that the parties will successfully maintain the positive dynamics.

According to Karen Karapetyan, the Armenian Government is ready to expand the frames of cooperation with the EU in improvement of business environment, attraction of investment, installation of the European culture of management, and other directions.

Piotr Switalski expressed his hope that the appointment of Karen Karapetyan as Prime Minister will advance further strengthening of EU-Armenia collaboration.

The Ambassador noted that current saturated EU-Armenia agenda could predetermine long-term projects that will be established by the new Framework Agreement.

Piotr Switalski emphasized that the EU is interested in cooperation with Armenian Government in developing SMEs and improving the business environment.

http://www.mediamax.am/en/news/foreignpolicy/20250/

[Artashes]

Re: Armenia's Economic Pulse

^^^
I am liking this new PM more and more.
He is directly cutting the avenues used by the oligarchs (black list). I can't help but think these greed ridden mansion dwellers are feeling a lotta heat right now, and it looks like their road ahead is even hotter.
Dear PM, burn these mofo's to a crisp.

[armnuke]

Re: Armenia's Economic Pulse

Armenian prime minister unveils new rules of game for State Revenue Committee

Armenian prime minister Karen Karapetyan introduced today the newly appointed State Revenue Committee chairman Vardan Harutyunyan to SRC staff, the government press office reported. Thankful for the work done by former SRC chairman Hovhannes Hovsepyan, the premier said he had gone a long way toward streamlining the SRC’s activities.

Congratulating Vardan Harutyunyan on appointment, the prime minister noted that he expected the newly appointed SRC head to make efficient efforts in his new position. Underlining the importance of the SRC as a frontline institution, Karen Karapetyan briefed the staff on the Committee’s operational targets and the rules of the game. In this context, the prime minister stressed the need to create a business-friendly environment for law-abiding citizens and economic entities.

“We often take measures against blacklisted entities without anticipating the impact they may have on those businesses working in the white field. The criteria should be as follows: we will refrain from such measures which can result in great benefits, but cause problems for law-abiding entities,” Karen Karapetyan said.

The prime minister considered it necessary to maximally reduce the inventory and the deadlines for delivery of documentation and references. The Premier specifically pointed out that he meant not only those references provided by the SRC, but also the ones due from other agencies. “Game rules should be possibly clear so that red tape and the number of references are minimized. No extra requirements should be set forth, if a country certificate is acceptable to us,” the Head of Government emphasized.

With reference to control prices, the Prime Minister highlighted the need for a mechanism to review their application on import of goods. The transaction price method is to be applied in assessing the customs value of goods based on the exporter’s invoice as approved by the customs authorities of the country of origin.

In the Premier’s words, while a lot of improvements have already been made, there is still much to do in this area. “For example, make out a white list of non-risky countries and accept their invoice price. I mean the countries where there is a VAT refund. We need to study this area in order to streamline it and curb the red tape by minimizing the field for application of reference prices. Businesses need to understand the rules of the game. I think we will succeed here.”

Karen Karapetyan stressed that was looking forward to a radical redesign of SRC officer’s image. “You must do everything so that law-abiding businesses and legal persons feel comfortable and, on the contrary, those entities working in the black field should beware of your intervention,” he said.
As the Prime Minister said, there should be a level playing field for everyone, and the tax authority must operate with maximum transparency to achieve this.

During the meeting, reference was made to the need for improving and expanding the scope of electronic transactions in SRC activities, reducing corruption risks arising in the course of administration, giving feedback and other issues of topical interest. In conclusion, the Premier said he looked forward to getting proposals and recommendations on structural changes in the SRC.

http://arka.am/en/news/economy/armenian_prime_minister_unveils_new_rules_of_game_for_state_revenue_committee/

[Haykakan]

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Gazprombank sells daughter company’s 100% shares to Armenia

09:28 • 11.10.16

Gazprombank has sold to Armenian investors the shares of Areximbank, its daughter company which faced US sanctions in September, RIA Novosti reports, citing a Russian credit organization.

“Gazprombank has sold 100% shares of Areximbank to an investor group in Armenia. At the same time, the bank remains committed to the implementation of investment projects,” reads an official press release issued after the transaction.

Gazprombank was reported to have suspended the management of the Armenian-Russian bank’s shares since October 7.

The Office of Foreign Assets Control, US Department of Treasury, imposed the sanctions upon Gazprom, Gazprombank and several other Russian companies’ affiliates on September 1.

Sources from Areximbank said the sanctions are not expected to affect their regular work or customer services.

http://www.tert.am/en/news/2016/10/11/gazprombank/2159004

[Haykakan]

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October 3, 2016 - 18:05 AMT
PanARMENIAN.Net - The fight against monopolies is high on the agenda of the new government, the newly-appointed Minister of Economic Development and Investment said Monday, October 3.
“This issue is topical as ever,” Suren Karayan said.
“But I will elaborate on the matter in a month when the new government is scheduled to present fresh approaches and solutions.”
Prime Minister Karen Karapetyan had earlier declared that the economy has no chance of rehabilitation without cutting the share of shadow economy.

[Haykakan]

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Here is a good example of how relations with Iran and membership in the EEU benefits Armenia despite the hordes of naysayers.

Matthias Kiesler
Photo: Mediamax

In the economic field we indeed see more and more potential. There is a rising interest of German entrepreneurs to come here not just for trade. Germany is already the biggest trading partner for Armenia within the European Union, and that’s good, but we think there is also more potential for German companies to produce here for several reasons. One of them is that from here you can enter the Russian market much easier because Armenia is a member of the Eurasian Economic Union. Armenia and Iran have very good relations, so there is a reason to produce here and maybe to export to Iran.

Armenia in principle is a small, isolated country, and this is a disadvantage. But now that you have good relations with Iran and you are a part of the Eurasian Economic Union, this could be an advantage. We try to develop it, and only last week I met a CEO of a German company, and he’s seriously thinking to invest here and produce here. We will follow up with that.

[londontsi]

Re: Armenia's Economic Pulse

Տնտեսության նախաճգնաժամային վիճակը՝ մեկ գործարանի օրինակով. «Թարմ ուղեղով»՝ Ռաֆֆի Մխջյանի հետ

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[Haykakan]

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A Global Navigation Satellite System (GLONASS) plant may start operating in Armenia starting from fall 2017.
Chief Research Associate of the Central Engineering Research Institute of Russian Roscosmos State Corporation, Victor Krivopuskov, said the aforementioned to Armenian News – NEWS.am.
GLONASS’ arrival in Armenia will significantly expand the use of space technology in transportation, medicine and catastrophe prevention, he noted. xx
“The plant will most probably start operating this time next year. It will be included in the system of GLONASS plants, and will work tirelessly for at least 30 years,” Krivopuskov said.x

http://news.am/eng/news/349359.html

[Haykakan]

Re: Armenia's Economic Pulse

Fingers crossed for this to go ahead. Nairit chemical plants might re-open.

Վարչապետին ներկայացվելու են «Նաիրիտի» վերականգման և Իրան-ՀՀ երկաթուղու կառուցման ներդրումային ծրագրերը

http://panarmenian.net/arm/news/221963

That plant was a major polluter if I remember correctly.