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.
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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".
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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.Leave a comment:
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Re: Armenia's Economic Pulse
I feel like the current administration is cashing out before the constitutional reforms take effect..Leave a comment:
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Re: Armenia's Economic Pulse
ARMENIA TO RECEIVE $25 MILLION CHINESE LOAN TO IMPORT CUSTOMS CONTROL EQUIPMENT
YEREVAN, November 13. /ARKA/. The Armenian parliament ratified on
Friday a framework preferential loan agreement signed with China in
March 2015. According to deputy finance minister Vakhtang Mirumyan,
under the agreement Armenia will be provided with 56 million RMB
(about $25 million.). He said the loan is repayable within 20 years
with a 5-year grace period. The interest rate is 2% per annum.
Mirumyan said the funds will be provided exclusively in the form
of equipment for a program designed to modernize Armenia's customs
administration. According to him, it will help significantly increase
the productivity of the customs control and reduce the time of
customs clearance.
Mirumyan specified that China will provide equipment for the customs
control of goods shipped by rail, which currently Armenia does not
possess.
"This equipment will allow for customs clearance by means of X-ray
technology at the time of train movement at a speed of 30 km/h,'
Mirumyan said.
According to him, Armenia will also receive Chinese mobile scanners
which are required at customs warehouses enabling checks in customs
control zones without opening the cargo and physical control of
goods, which significantly reduce the time of inspection and customs
clearance.
"Continuous monitoring will considerably improve the efficiency of
customs control," he said. -- 0--
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Re: Armenia's Economic Pulse
BUSINESSES IN ARMENIA'S BORDER AREAS TO BE EXEMPTED FROM TAXES
YEREVAN, November 13. /ARKA/. The National Assembly of Armenia passed
Thursday at the first reading amendments to the tax privileges for
companies operating in border rural areas.
Emil Tarasyan, the deputy economy minister, said that the law was
adopted yet in 2014, but it applied only to villages, not cities.
In his words, the aim of the introduction of tax exemption for
businesses in border areas is to spur economic activities and enhance
investment attractiveness here.
The law exempts entrepreneurs in border areas from paying VAT as well
as income and profit taxes.
Now 450 organizations in 31 rural border communities enjoy this
preference. ---0----
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Re: Armenia's Economic Pulse
IRAN MAY FORM ECONOMIC TIES WITH EEU COUNTRIES VIA ARMENIA: OFFICIAL
November 9, 2015 - 18:08 AMT
PanARMENIAN.Net - Tehran seeks to establish economic ties with the
EEU member states via Armenia, Iran's Minister of Information and
Communications Technology said, according to ISNA news agency.
Mahmoud Vaezi met Monday, November 9, with Armenian Economy Minister
Karen Chshmarityan in Tehran.
"Armenia is an EEU member, which gives us the opportunity to export
Iranian goods to Russia and other member states," Vaezi noted.
According to the chief of the Armenia-Iran Joint Chamber of Commerce
(AIJCC), Levon Aharonian, the visit aims to boost trade and business
cooperation.
Referring to the prospects of Tehran-Yerevan trade ties, Aharonian
noted that Iran-Armenia trade volume amounted to $400 million in March
21, 2014- March 21, 2015, expressing hope that the figures will be
improved in the future.
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Re: Armenia's Economic Pulse
Originally posted by HyeSocialist View PostDoing Great in ‘Doing Business’: Armenia savors progress in annual WB rankings
The World Bank’s Doing Business 2016 report, ranking Armenia 3 positions higher than last year, will give a positive impetus to investors and will improve the country’s business environment, Armenian government officials believe.
The global rankings released earlier this week put Armenia in 35th place among 189 countries, while by the ease of starting business Armenia is ranked as high as fifth.
Prime Minister Hovik Abrahamyan dwelled on this progress in his opening remarks at a Cabinet meeting on Thursday. He said this progress was due to reforms carried out by his government recently.
“During the past year by the number of reforms Armenia was placed among the 14 percent of surveyed economies that carried out three or more reforms,” he noted.
“Armenia’s progress in the rankings is based on reforms carried out in three directions, in particular, the process connected with construction permits, reduction of time and costs connected with documents relating to trade and border crossing procedures, and the quality of contract enforcement,” Abrahamyan said.
The head of the Armenian government also said that due to the country’s membership in the Eurasian Economic Union, the time and cost for documentary and border compliance for trade with member states has been reduced. For example, now it takes only three hours for documentation procedures at the borders instead of 50 hours in the past.
“In terms of starting a business Armenia is among the best countries in the world, occupying 5th place among 189 economies, while in terms of property registration it is in 14th place. In Armenia it takes an entrepreneur three days to start his business. This is an index comparable to Denmark’s. While in the world on the average property is registered within 48 days, in Armenia it takes only seven days,” the prime minister said.
Armenian government officials believe that the World Bank evaluations will help promote Armenia’s business environment. “Businesses take World Bank as the most credible,” Armenian Economy Minister Karen Chshmarityan told journalists on Thursday, adding, however, that attraction of investments is not determined only by rating lists.
The minister also referred to another World Bank report, according to which Armenia is among the most monopolized countries among former Soviet and Eastern European countries.
“Of course, the presence of monopolies is a negative thing, but overall it is not the subject of this [Doing Business] report. If we talk about the overall investment climate, then, of course, the report reflects the true picture,” he said.
Economic analyst Hayk Gevorgyan, meanwhile, remains skeptical about the reported progress. He observes that the volume of direct foreign investments made in the Armenian economy keeps declining despite reports like Doing Business.
“When our triumphant ascent began, the volume of direct foreign investments into Armenia’s economy was at the level of $567 million. In 2013, the investments sharply fell by more than 50 percent, down to $271 million,” the analyst writing for the Haykakan Zhamanak daily said. He added that after that the National Statistical Service drastically changed its methodology for calculating the amount of investments.
“Already by the changed methodology it turned out that in 2013 the volume of investments was not $271 million, but nearly $1 billion. However, by the same methodology in 2014, the volume of direct foreign investment again fell by 14 percent. And in the first half of this year, compared to the same period last year, direct foreign investments fell nearly three times,” Gevorgyan concluded.
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If they could just tackle and reform Taxes in Armenia, flush out the corruption and make a fair and honest tax code, we'll be in the Top 30.
.Leave a comment:
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Re: Armenia's Economic Pulse
Doing Great in ‘Doing Business’: Armenia savors progress in annual WB rankings
The World Bank’s Doing Business 2016 report, ranking Armenia 3 positions higher than last year, will give a positive impetus to investors and will improve the country’s business environment, Armenian government officials believe.
The global rankings released earlier this week put Armenia in 35th place among 189 countries, while by the ease of starting business Armenia is ranked as high as fifth.
Prime Minister Hovik Abrahamyan dwelled on this progress in his opening remarks at a Cabinet meeting on Thursday. He said this progress was due to reforms carried out by his government recently.
“During the past year by the number of reforms Armenia was placed among the 14 percent of surveyed economies that carried out three or more reforms,” he noted.
“Armenia’s progress in the rankings is based on reforms carried out in three directions, in particular, the process connected with construction permits, reduction of time and costs connected with documents relating to trade and border crossing procedures, and the quality of contract enforcement,” Abrahamyan said.
The head of the Armenian government also said that due to the country’s membership in the Eurasian Economic Union, the time and cost for documentary and border compliance for trade with member states has been reduced. For example, now it takes only three hours for documentation procedures at the borders instead of 50 hours in the past.
“In terms of starting a business Armenia is among the best countries in the world, occupying 5th place among 189 economies, while in terms of property registration it is in 14th place. In Armenia it takes an entrepreneur three days to start his business. This is an index comparable to Denmark’s. While in the world on the average property is registered within 48 days, in Armenia it takes only seven days,” the prime minister said.
Armenian government officials believe that the World Bank evaluations will help promote Armenia’s business environment. “Businesses take World Bank as the most credible,” Armenian Economy Minister Karen Chshmarityan told journalists on Thursday, adding, however, that attraction of investments is not determined only by rating lists.
The minister also referred to another World Bank report, according to which Armenia is among the most monopolized countries among former Soviet and Eastern European countries.
“Of course, the presence of monopolies is a negative thing, but overall it is not the subject of this [Doing Business] report. If we talk about the overall investment climate, then, of course, the report reflects the true picture,” he said.
Economic analyst Hayk Gevorgyan, meanwhile, remains skeptical about the reported progress. He observes that the volume of direct foreign investments made in the Armenian economy keeps declining despite reports like Doing Business.
“When our triumphant ascent began, the volume of direct foreign investments into Armenia’s economy was at the level of $567 million. In 2013, the investments sharply fell by more than 50 percent, down to $271 million,” the analyst writing for the Haykakan Zhamanak daily said. He added that after that the National Statistical Service drastically changed its methodology for calculating the amount of investments.
“Already by the changed methodology it turned out that in 2013 the volume of investments was not $271 million, but nearly $1 billion. However, by the same methodology in 2014, the volume of direct foreign investment again fell by 14 percent. And in the first half of this year, compared to the same period last year, direct foreign investments fell nearly three times,” Gevorgyan concluded.
---
If they could just tackle and reform Taxes in Armenia, flush out the corruption and make a fair and honest tax code, we'll be in the Top 30.Leave a comment:
Leave a comment: