Armenia's Economic Pulse

[HyeSocialist]

Re: Armenia's Economic Pulse

Legislative Reform to Promote Solar Energy in Armenia

http://www.renewableenergyworld.com/articles/2016/06/legislative-reform-to-promote-solar-energy-in-armenia.html

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Solar is definitely a good way to go.

[armnuke]

Re: Armenia's Economic Pulse

Iran, Armenia Poised to Sign Visa Waiver Deal


Iran will sign the bilateral visa waiver agreement with Armenia, according to an Iranian Foreign Ministry source.

TEHRAN (Sputnik) — Iran is set to sign a deal on easing visa regime with Armenia’s visiting Foreign Minister Edward Nalbandian, an Iranian Foreign Ministry source told Sputnik on Wednesday.

Visa-Free Regime to Be Established Between Armenia, Iran
The Armenian Foreign Ministry said in a statement earlier that the cabinet was to debate the bilateral visa waiver agreement on Thursday.
"We saw significant progress in Iranian-Armenian relations in the past few months. This decision is a result of lengthy consultations between the two countries," the source said, adding Iran had similar waivers in the pipeline for Russians.

The agreement will allow Iranians to travel to Armenia without a visa and stay there for 90 days within a 180-day period. Iran will have the same exemption in place for Armenians.

http://sputniknews.com/world/20160601/1040595671/iran-armenia-visa-travel.html#ixzz4AMcrvV1G

[armnuke]

Re: Armenia's Economic Pulse

Off topic, has anyone noticed a massive infrastructure growth in yerevan especially in the central city, now my family says its the central city of course it gets infrastructure growth but for the past 5 years I lived here it has grown much faster than it usually does, literally every few weeks I see a new building every time I walk home from school.

So can someone care to explain where our government got this cash because its not privatisation.

Which governmental buildings? New buildings came up in Vazgen Sargsyan avenue to house several ministries.
Other buildings are regular apartments. Most have come up near the monument/cascade.

[Eddo211]

Re: Armenia's Economic Pulse

Looks like Iran is expanding its gas supply to Armenia.....this is not the first project.

In fact it has been a while that Iran sends gas to Armenia which we turn into electricity and send it back to Iran.
Iran electrical grid is a nightmare and Armenian electricity, section of it powers Tabriz (Azeri majority city).
We have been blamed for cutting power to Azeris.

This is good news. More corporation with our old Ally Iran is very good.

[armnuke]

Re: Armenia's Economic Pulse

Iranian Sanergy begins construction of gas distribution network in southern Armenia

Iranian Sanergy begins construction of gas distribution network in southern Armenia
YEREVAN, May 31. /ARKA/. Iranian company Sanergy awarded earlier this year a license by Armenian government to build a gas distribution network in the south of Armenia, worth $2 million, has launched the project, deputy energy and natural resources minister of Armenia Hayk Harutyunyan said Monday.

Under a 2011 Iranian-Armenian agreement, Tehran has provided Armenia with a grant of $2 million for the construction of the gas distribution network in southern Armenian Meghri and Agarak, bordering Iran.

Under another agreement with Russian Gazprom signed in 2013, the latter’s Armenian subsidiary- Gazprom Armenia- will supervise the construction process.

"The Iranian side has already started the construction work. As a co-financer of this project the Armenian side will supply the necessary equipment,' said Harutyunyan.

After the construction of the gas distribution network, the gas to the southern region of Armenia will be shipped from Iran. The price of Iranian gas has not been determined yet, neither the volumes. They are likely to be determined later.

Earlier, deputy CEO of Gazprom Armenia Hrant Tadevosyan said the construction of the gas distribution network in the south of Armenia is scheduled for completion in 2016. According to preliminary estimates, some 5,000 households and enterprises are supposed to get connected to the network once it is built.

The gas pipeline between Armenia and Iran was commissioned in 2008. In return for Iranian gas Armenia ships electricity to Iran—3 kWh for one cubic meters of gas. The Iranian gas is not sold to households or enterprises; it is converted into electricity by the Yerevan thermal power plant and much of it is shipped back to Iran. The pipeline’s maximum capacity is estimated at 2 billion cubic meters per year. -0-

http://arka.am/en/news/technology/iranian_sanergy_begins_construction_of_gas_distribution_network_in_southern_armenia/

[armnuke]

Re: Armenia's Economic Pulse

Armenian brandy production surges by 50 percent in four months

Armenian brandy production surges by 50 percent in four months
YEREVAN, May 31. / ARKA /. Brandy production in Armenia surged by 49.3% year-on-year in the first four months of 2016 to over 5 million liters, according to the latest numbers, released today by the National Statistical Service (NSS).

NSS said also wine production in the same time span increased by 13.4% to over 2 million liters as vodka production fell by 11.5% to about 2.9 million liters and whiskey production increased 3-fold to 555,000 liters.

Production of champagne during the reporting period increased by 36.9% to 116,500 liters, while beer production fell by 7.6% to over 4 million liters. Production of soft drinks dropped by 10% to over 17 million liters. -0-

http://arka.am/en/news/business/armenian_brandy_production_surges_by_50_percent_in_four_months/

[armnuke]

Re: Armenia's Economic Pulse

An employee from the State Revenue Committee has no right to analyze and forecast business competition.
Looks like this Alaverdyan guy is on Lfik's payroll.

No one able to compete with Alex Grig in sugar imports

YEREVAN, May 31. /ARKA/. Speaking to reporters on Monday the deputy head of Armenia’s State Revenue Committee Armen Alaverdyan argued that there are no restrictions on the import of certain foods, including sugar.

“Any person may import any products and as much as they want,’ he said.

"The fact is that an importer must be competitive, no matter what they import- sugar, oil or other goods. They should be able to sell the imported products, to assess all the risks, including their potential income,' said Alaverdyan.

According to Alaverdyan, Alex Grig company, the monopolist in the local sugar market, enjoys significant competitive advantages, such as large deliveries, own distribution network and sales points, which makes this market unprofitable for other importers.

Alex Grig is owned by a businessman MP Samvel Alexanyan, one of the country’s wealthiest entrepreneurs who holds sway in Yerevan’s blue-collar Malatia-Sebastia district. Alexanyan controls lucrative imports of sugar and other foodstuffs.

According to Armen Alaverdyan, there are 18 more companies importing sugar to Armenia.

"Only a serious financial group is able to compete with Alex Grig and I do not see a company that will be able to do so in the next 12 months at least,’ Alaverdyan said. -0-

http://arka.am/en/news/business/no_one_able_to_compete_with_alex_grig_in_sugar_imports/

[armnuke]

Re: Armenia's Economic Pulse

Armenia registers 4,4% economic growth in Q1

PanARMENIAN.Net - According to the National Statistical Service, Armenia registered a 4,4% economic growth in Q1 of 2016. The GDP volume amounted to AMD 898.2 billion against the AMD 881.2 billion in the same period last year.
The volume of industrial production in January-April totaled around AMD 421 billion, up by 10% against the same period in 2015.
Foreign trade turnover amounted to about $1.46 billion in the first four months of 2016, growing by 4,2% against the same period last year.
Moreover, exports grew by 22,2% to $514 million, and imports dropped by 3,5% to total $943 million.
The volume of electricity production increased by 3,2% to amount to 2,566 billion kWh.

http://panarmenian.net/eng/news/213540

[armnuke]

Re: Armenia's Economic Pulse

Ministry: Armenia needs review of new constitutional regulations in economic competition

YEREVAN. – Armenia needs effective mechanisms to decouple public authority from business.

Minister of Economy Artsvik Minasyan noted the above-said at Tuesday’s roundtable discussion on economic competition, and while presenting the results of a respective research.

In his words, this domain was considered very important yet very susceptible.

“Often, the meaning and objective of the fight is finding effective solutions regarding the policy being conducted in the domain,” stressed Minasyan.

As per the minister, people frequently speak about artificial predominance, or even monopolies, in markets.

“We [i.e. Armenia] need a review within the framework of new constitutional regulations in this domain,” he said. “And the latest manifestation of [respective] will is the PM’s instruction to take certain steps in this direction.

“In the given context, I appeal to our international partners for active cooperation in this direction, so that improving legislation and changing the [relevant] legal practice serve their purpose.”

http://news.am/eng/news/329873.html

[Joseph]

Re: Armenia's Economic Pulse

Armenia’s IT sector reports 17% growth in 2015

YEREVAN, May 30. /ARKA/. Armenia’s bourgeoning IT sector saw a 17%
growth in 2015 and a combined output soaring to about $550 million,
according to economy minister Artsvik Minasyan.
Speaking at the parliament today he said a last year survey revealed
around 400 active IT companies with about 15,000 employees on their
payrolls.

He said due to a string of tax breaks designed to boost the IT sector,
79 startups were founded last year with 329 new jobs.

A government bill approved by the National Assembly last year, exempts
IT startup companies from profit tax until the end of 2019. Besides,
the government lowered income tax rate for their employees to 10
percent of their gross wages as opposed to the minimum payroll tax
rate of 24.4%.

According to official data, the export-oriented sector has been
expanding by more than 20 percent annually from 2008, driven largely
by the subsidiaries of U.S. hi-tech firms such as Synopsys, National
Instruments, Mentor Graphics and VMware, as well as Oracle, D-Link
Corporation and others. -0-

https://urldefense.proofpoint.com/v2/url?u=http-3A__arka.am_en_news_technology_armenia-5Fs-5Fit-5Fsector-5Freports-5F17-5Fgrowth-5Fin-5F2015_&d=DQIFaQ&c=clK7kQUTWtAVEOVIgvi0NU5BOUHhpN0H8p7CSfnc_gI&r=LVw5zH6C4LHpVQcGEdVcrQ&m=4FRqmpzw9eFHZauQntxrxjw-OfWYDz8vpMU0PQbYIto&s=EwthzRcjf0L2hoJXDKgdq8Eq2l4UVccw9Od0nGMmY98&e=