Armenia's Economic Pulse

[Haykakan]

Re: Armenia's Economic Pulse

EXPERT: ARMENIA MAY TAKE ADVANTAGES OF RUSSIA-PROPOSED EURASIAN CORRIDOR IF ABKHAZIAN RAILWAY SECTION OPENS

YEREVAN, September 11. /ARKA/. Armenia may take advantages of the
Eurasian corridor that Russia has proposed to open if the railroad
stretching across Georgia's breakaway Abkhazia opens, Aram Safaryan,
head of an NGO called Integration and Development, said Wednesday
in Novosti International Press Center. The Russia-proposed corridor
stretches from its Far East region to the European Union's border.

"Specialists have calculated that if this corridor works properly,
in accordance with its technical and economic regulations, cargo
transportation from the Far East to Europe will take less time, up
to 50 days, in the future thanks to immense government investments,
and it may become cheaper," Safaryan said.

"But only the opening of the Abkhazian section of the railway would
give this advantage to Armenia."

Safaryan said if the Abkhazian railway starts functioning, it would
benefit Armenia's trade with Russia and its partners.

"China is our second biggest trade partner after Russia, and the
first partner, if gas component is not taken into account. Our trade
turnover amounted to almost $500 million in 2012."

Safaryan also said that prices for Chinese goods may be other, if
the Abkhazian section is opened.

"The status of observer at Shanghai Cooperation Organization
will become reasonable if we solve important problems within the
Commonwealth of Independent States," he said.

In his words, specialists find prospects for the opening very high
given political processes in Georgia. ---0---

16:49 11.09.2013

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

[Haykakan]

Re: Armenia's Economic Pulse

ORACLE TO ESTABLISH AN EXCELLENCE CENTER IN ARMENIA

15:20 13.09.2013

Hasmik Dilanyan
Public Radio of Armenia

A Memorandum of Understanding was signed between the Armenian
Government and the American Oracle Corporation. The document was signed
by the head of Staff of RA Government, Minister Vache Gabrielyan and
Alain Blanc, Senior Vice President of the Oracle Corporation.

Under the MoU Oracle will provide assistance to Armenia within the
framework of its educational programs. It also envisages assessment
and expansion of application of Oracle Solutions in the state bodies
of Armenia, establishment of excellence centers in Armenia, etc.

Oracle's Senior Vice President Blanc expressed confidence that the
American company's entry to the market will be successful, which will,
in turn, stimulate various innovation programs.

"The development of IT sector id among the priorities of the Armenian
Government," Armenian PM Tigran Sargsyan said. "We register a 15-20%
growth in the field and we are confident that the bilateral cooperation
will give new impetus to the further development of the UT sphere
our country," he added.

Agreement on cooperation between the Armenian side and Oracle was
reached still on December 7, 2012 during a meeting between Prime
Minister Sargsyan and heads of the American corporation in Frankfurt,
Germany.

The Oracle Company was founded in 1977 in the United States. The
company has more than 390,000 customers and its software products
are presented in more than 145 countries.

http://www.armradio.am/en/2013/09/13/oracle-to-establish-an-excellence-center-in-armenia/

[Federate]

Re: Armenia's Economic Pulse

Rasia Announces Achievement of Key Milestone for Southern Armenia Railway in Meeting with Armenian Prime Minister
PR Newswire

DALIAN, China, September 15, 2013 /PRNewswire/ --

Prior to the start of the World Economic Forum, Rasia FZE announced in a meeting with Armenian Prime Minister Tigran Sargsyan the achievement of a key milestone for the Southern Armenia Railway, including the release of a highly favorable feasibility study and the recommended railway design route from China Communications Construction Company ("CCCC").

Joseph Borkowski, Chairman of Dubai-based investment firm Rasia FZE which owns the 50-year concession for the Southern Armenia Railway, highlighted the strong economic viability and regional importance of the railway, as demonstrated by the feasibility study. Having reached this key milestone, Rasia will now move towards securing essential regional cooperation for the following financing, construction and operating stages of the project.

The feasibility study results indicate that the Southern Armenia Railway will cost approximately US $3.5 billion to construct, have a length of 305 kilometers from Gagarin to Agarak, and provide a base operating capacity of 25 million tons per annum. The railway will have 84 bridges spanning 19.6 kilometers and 60 tunnels of 102.3 kilometers, comprising 40% of the total project length. The selected railway alignment is nearly 44 kilometers shorter than previously estimated from Gavar to Agarak and will include the Gagarin to Gavar connection to the existing railway network, operated by the JSC Russian Railways subsidiary South Caucasus Railway CJSC.

Mr. Borkowski expressed his sincere gratitude for the time invested by Prime Minister Tigran Sargsyan in Dalian, China and for the strong support of Minister Beglaryan and the staff of the Ministry of Transport and Communication over the past year. Mr. Borkowski also reiterated his great satisfaction with the exceptional work and dedication of the CCCC team, enabling completion of the feasibility study ahead of schedule, and the positive technical cooperation with General Director Mr. Viktor Rebets and his team at South Caucasus Railway CJSC.

As the key missing link in the International North-South Transport Corridor, the Southern Armenia Railway will create the shortest transportation route from the ports of the Black Sea to the ports of the Persian Gulf. The Southern Armenia Railway will establish a major commodities transit corridor between Europe and the Persian Gulf region, with conservative long-term traffic volume forecasts of 18.3 million tons per annum. Once the railway is completed, transport costs and times for the region are expected to improve substantially, fostering greater regional trade and economic growth while dramatically strengthening the Armenian economy. The feasibility study suggests a National Economic IRR for Armenia exceeding 11%. The implementation of the Southern Armenia Railway Project is a top strategic priority for Armenia and the region.

SOURCE Rasia FZE

Read more: http://www.digitaljournal.com/pr/1467736#ixzz2f0pCogXO

[Mher]

Re: Armenia's Economic Pulse

Thank you guys for these updates, keep them coming, we need more economic discussion on this forum

[Haykakan]

Re: Armenia's Economic Pulse

US TO INCREASE FUNDING TO ARMENIA - NEWSPAPER

September 18, 2013 | 08:41

YEREVAN. - The United Stateswill increase financial assistance to
Armenia, and this assistance will be carried out by way of a variety
of programs, Zhamanak daily reports.

"We have learned that the US is determined to reinstate the Millennium
Challenge program this year. According to some information, the US
plans to start the second phase of the program by the year's end.

"It was previously planned to fund up to $400-450 million in the case
of a second phase of the program. But, now, it has become apparent
that the US plans to make it reach up to half a billion dollars,"
Zhamanak writes.

News from Armenia - NEWS.am

[Haykakan]

Re: Armenia's Economic Pulse

VINOKUROV: EXIT FROM TRANSPORT BLOCKADE TO BRING ECONOMIC BREAKTHROUGH TO ARMENIA

YERERVAN, September 24. /ARKA/. Yevgeny Vinokurov, the director of the
Eurasian Bank's Center for Integration Studies, speaking Tuesday at a
video press conference held for representatives of Armenia, Belarus,
Kazakhstan, Kyrgyzstan and Russia to present the results of the
Eurasian Bank's Integration Barometer - 2013, said when Armenia gets
out of the transport blockade and become a railway transit country,
it will enjoy an economic breakthrough.

"The major task is to ensure a non-stop operation of the railway
communication between Russia and Iran through Abkhazia and Georgia.

When it comes online it will enable Armenia to make a breakthrough
to advance towards sustainable economic development. We consider this
as the key long-term projects for Armenia's economy," he said.

The 556-km transport corridor from the southern Armenian town of
Meghri, on the border with Iran, to Bavra in the north on the border
with Georgia will open a gateway to the Black Sea. The North-South
transport corridor will enable Armenia to mitigate the effects of
the blockade imposed by Azerbaijan and Turkey.

The North -South transport corridor project was initiated by Russia
and Iran. Armenia and Iran have also agreed at the highest level to
consider the possibility of laying a railway link between the two
countries that will become part of the transport corridor.

According to Vinokurov, normalization of Russian-Georgian relations
is a key to the process of Armenia's accession to the Customs Union
of Russia, Kazakhstan and Belarus.

During a visit to Armenia in 2013 January Georgian Prime Minister
Bidzina Ivanishvili spoke about the possible revival of the railway
link between Russia and Armenia through Abkhazia interrupted by the
1992-93 Georgian-Abkahzian war.

Vinokurov pointed out the decrease of the natural gas price and customs
duties for rough diamonds and improvement of the labor migration
situation among the advantages Armenia will have when joins the
Customs Union.

Armenian and Russian presidents, Serzh Sargsyan and Vladimir Putin,
made a joint statement on September 3, after they met in Moscow. It
has become known from the statement that Armenia has decided to join
the Customs Union and it intends to take part in formation of Eurasian
Economic Union in the future. Putin said that the Russian Railway
may invest about 15 billion rubles in development of Armenia's railway.

---0---

18:00 24.09.2013

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

[Haykakan]

Re: Armenia's Economic Pulse

IRAN CALLS FOR ENHANCEMENT OF TIES WITH ARMENIA

http://www.armradio.am/en/2013/10/03/iran-calls-for-enhancement-of-ties-with-armenia/

11:19 03.10.2013

Armenia, Iran
Iranian First Vice President Es'haq Jahangiri has urged closer
cooperation between Tehran and Yerevan on all fronts, Press TV reports.

In a message to Armenian Prime Minister Tigran Sargsyan, the Iranian
vice president called for the expansion of Tehran-Yerevan relations
in political, economic and cultural fields.

He also expressed optimism that the enhancement of mutual ties between
Iran and Armenia will help promote peace in the region and across
the globe.

Jahangiri also congratulated the Armenian nation and government on
the anniversary of the country's independence day.

In line with their existing bilateral relations, Tehran and Yerevan
have established growing energy ties over the recent years. Iran has
bartered more than 1.5 billion cubic meters of gas with Armenia's
electricity over the past six years.

Last year, Iran exchanged some 481 million cubic meters of gas for
the neighboring country's electricity, the largest amount of bartering
between Iran and Armenia in six years.

[Haykakan]

Re: Armenia's Economic Pulse

Air Armenia to purchase two more planes

15:35 05/10/2013 » ECONOMY



Air Armenia airline will soon purchase two more planes, Vahan
Harutyunyan, airline's co-owner, told Panorama.am.

`The respective agreements are signed and two more planes are expected
to arrive soon,' he said.

Mr Harutyunyan confirmed the information that the airline has rented a
Boeing 737 plane. He said that Air Armenia will begin operating daily
Yerevan-Moscow flights on October 27.

The General Department of Civil Aviation of Armenia has granted Air
Armenia designations to operate flights to Moscow, Sochi, Samara,
Rostov, Krasnodar and Saint Petersburg.


Source: Panorama.am

[Haykakan]

Re: Armenia's Economic Pulse

5 large hotels are being built in Jermuk

October 05, 2013 | 14:41


Five large hotels are being built in the Armenian resort town of
Jermuk, Mayor Vardan Hovhannisyan said during the forum of village
communities.

He is confident that the opening of new hotels will bring more
tourists to the town.

`Hotels will provide different services . They are designed for
different consumers. We gradually acquire the glory we used to have
during the Soviet times. Jermuk is a part of
Yerevan-Noravanq-Tatev-Karabakh tourist corridor. Tourists who are
traveling along this route, would be happy to spend a day or two at
our resort,' he emphasized.


News from Armenia - NEWS.am

[Haykakan]

Re: Armenia's Economic Pulse

ARMENIAN HONEY RECOGNIZED THE BEST AT FESTIVAL OF TEA AND HONEY IN TBILISI

by David Stepanyan

ARMINFO
Tuesday, October 8, 12:25

Armenian honey was recognized the best at the Festival of Tea and Honey
in Tbilisi on 7 October. The two-day-long festivities were timed to
Tbilisoba, an annual October festival in Tbilisi celebrating diversity
and attracting many people from the capital and across the country. The
winner of the Festival was David Movsisyan, a 56-year-old beekeeper
from the village of Beniamin, Shirak region, Armenia. The Armenian
honey was presented also by a beekeeper-specialist of Multi-Agro
Company Hovhanness Petoyan.

ArmInfo's correspondent reports from Tbilisi that the second prize
went to the representative of the Turkish beekeeping company Antik
Ani Bal from Kars, Adem Ertac. The winners were selected via voting of
visitors who tasted the honey samples from Armenia, Nagorno Karabakh,
Azerbaijan, Turkey, and Georgia.

Various types of teas and bee-products were presented at the Festival.

Caucasus tea - a set of teas and herbs from different regions of the
South Caucasus - was presented at the event. Under the brand Caucasus
Cheese Georgian, Armenians and Turkish cheese-makers presented a new
type of cheese produced at Ashotsk Cheese Factory. A collection of
wines from wine-growing regions of the South Caucasus produced at
Oshakan Winnery was introduced under the brand Caucasus Bouquet. As
previously, the Caucasian brands (cheese, tea, honey and wine)
introduced by the Caucasus Business and Development Network (CBDN)
got a lot of interest because of their regional format.

"We are very happy to present a pack of the Caucasian tea instead of
a report on the results of the big and interesting work we carried
out within the frames of the Festival. It is the best evidence of
the fruitfulness of our modest efforts to facilitate the dialogue
and cooperation of businessmen in the South Caucasus," says Oskari
Pentikainen, Senior Programme Officer at International Alert.

The Festival of Tea and Honey was organized by CBDN to promote
Caucasus brands. Established in 2005, CBDN has regional offices in
Yerevan, Baku, Gyumri, Stepanakert, Kutaisi, Kars, Tbilisi, Sukhum/i,
Tskhinval/i. CBDN Yerevan Office was represented by the Institute for
Civil Society and Regional Development. All the initiatives of CBDN
supported by International Alert aim to make a positive contribution
and follow the principles of do-no-harm. Caucasus Business and
Development Network promotes peace-building through regional economic
cooperation and dialogue between all business communities across the
South Caucasus.