Armenia's Economic Pulse

[Haykakan]

Re: Armenia's Economic Pulse

ARMENIA TO OPEN CASINOS NEAR IRAN BORDER

February 27, 2014 | 13:23

YEREVAN. - Criteria are developed for the setting up of gaming halls
in the Armenian City of Meghri, which borders Iran.

The respective decision was adopted at Thursday's Cabinet meeting.

In line with the decision, the casinos must be at least 300 meters
away from educational, historical and cultural objects, state and
local government agency buildings, and hospitals.

In late 2012, legislative changes were made, pursuant to which gaming
halls may operate in Armenia solely in four cities (Tsaghkadzor,
Jermuk, Sevan, and Meghri). The law went into effect on January 1,
2014, but it caused discontent among the proprietors of the casinos
that are located not far from capital city Yerevan. Some of these
gaming halls already have been closed down.

News from Armenia - NEWS.am

[Mher]

Re: Armenia's Economic Pulse

Armenia’s food prices dropped by 2.2% in February

http://arka.am/en/news/economy/armenia_s_food_prices_dropped_by_2_2_in_february/#sthash.l3JndJfX.dpuf

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Can anyone comment on the reasons behind the rises/falls in specific goods. I know last year was in general a poor harvest year, hence the lower vegetable/fruit prices. But what is behind the rise in egg prices that has been mentioned in the news quite a few times

[Haykakan]

Re: Armenia's Economic Pulse

ROSNEFT INVESTMENT PLANS IN NAIRIT

Vestnik Kavkaza, Russia
March 3 2014

3 March 2014 - 10:16am

By David Stepanyan, Yerevan. Exclusively for Vestnik Kavkaza

Armenian Prime Minister Tigran Sargsyan said in late February that
Rosneft (Russia) was ready to invest in the construction of a new
factory at Nairi for $500 million. Sargsyan and his Russian counterpart
Dmitry Medvedev and Rosneft President Igor Sechin reached such an
agreement in Sochi. The state company and an unnamed investor agreed to
finance an investment program developed by Jakobs, an international
company, to modernize Nairit. The sides are working on technical
details of the investment projects, place for construction of a new
tire factory, its links with Nairit, necessary legislative procedures
and benefits. In Sargsyan's words, the government of Armenia will
grant the investment program for Nairit status of a free economic zone.

Talks about the merging of Nairit and Rosneft started between Igor
Sechin and the Armenian government in Yerevan in late 2013. As a
result, Rosneft, Pirelli Tyre Russia S.p.A., Oil Techno and the
Armenian Energy Ministry signed a memorandum of understanding and
formation of a joint venture to produce butadiene-styrene rubber.

Rosneft investments and Pirelli projects in advanced rubber production
will help open a modern facility to produce high-tech eco-friendly
tires in Nairit. However, the project faces problems rooting from
the debts and bankruptcy of Nairit.

Nairit has accumulated a debt of $400 million, despite being closed
down since 2010. 90% of the factory's shares were sold to Rhinoville
Property Limited (UK) for $40 million, 10% belong to the government
of Armenia. Rhinoville Property Limited received a loan of $70
million at the CIS Interstate Bank. The bank granted the company
$90 million more in 2009 and $10 million in 2010, making a total
of $170 million. The factory was shut down in 2010 but its owners
have not paid a cent to the bank. The factory generated a debt of
$400 million together with the interest rate and overdue penalties,
becoming bankrupt. It is noteworthy that the owners of the factory
have not only failed to launch the factory after receiving the loan,
they also owe workers salaries for 12 months.

There is little chance that Rosneft would pay the debt of $400
million. The grave situation around the crown xxxel of Soviet industry
will only be clarified after the Armenian government gives guarantees.

Rosneft needs to put Nairit on the asset list in order to revive the
chemical giant.

The Dashnaktsutyun fraction at the parliament proposed formation of
a temporary commission to study the causes of the Nairit debts. The
republican majority rejected the idea and believes that it would be a
better idea to tie it with Rosneft talks. Considering the formation
of an independent commission for Nairit would give many answers,
Dashnaktsutyun published a statement about credits and offshore
companies and demanded the parliament majority to give answers.

Millions of dollars from the CIS bank were certainly received under
surveillance of the Armenian government, owner of 10% of shares in
Nairit, and the loans for the closed down factory were affected by
frauds and machinations causing the bankruptcy. The prime minister
has recently tried to deny accusations of Armen and Ashot Sarkisyans
for purposeful bankruptcy of the facility. He said that he had had
nothing to do with machinations in 2006 when he had been President
of the Central Bank. The rebuttal seems rather languid because the
prime minister's skills in financial operations and ability to "cover
things up" are legendary.

http://vestnikkavkaza.net/analysis/economy/52058.html

[Haykakan]

Re: Armenia's Economic Pulse

Eurasian Development Bank prepares $100 million for Armenia North-South Highway

March 08, 2014 | 00:39


The Eurasian Development Bank (EDB) is preparing a $100 million-worth
project for the construction of a section of the North-South
trans-Armenian highway.

Armenian government representatives stated the aforesaid at the EDB on
Thursday, the Bank official website reports.

The project was developed jointly with the Asian Development Bank
(ADB), which is its main sponsor.

In all likelihood, the section to be constructed will be between the
cities of Meghri and Kapan.

Overall construction of the North-South Highway will total $967
million, whose $500 million will be allocated by the ADB.


News from Armenia - NEWS.am

[Mher]

Re: Armenia's Economic Pulse

Toronto agency hired for Armenia’s tourism rebrand

https://www.theglobeandmail.com/report-on-business/industry-news/marketing/toronto-agency-hired-for-armenias-tourism-rebrand/article17446435/

[bell-the-cat]

Re: Armenia's Economic Pulse

Toronto agency hired for Armenia’s tourism rebrand

https://www.theglobeandmail.com/repo...ticle17446435/

Because it is not a beach destination, it will be advertising itself to tourists who are interested in culture and history. A project is under way, for example, to revitalize the more than 1,000-year-old Tatev monastery.

While there is no difficulty in selling Armenia to the likes of "Russia, Georgia and Iran", Armenia today has no "culture and history" policies that a more sophisiticated visitor would find acceptable. Practices like "revitalize" might be acceptable in culturally-limited places like Russia, Georgia and Iran (countries where thousands of historical monuments have been "revitalized" out of existence), but in those "urban centres in Germany and France" the populations would know it for what it is: destruction. Nobody in Europe is going to travel 1000s of miles to Armenia to see "revitalized" fakery!

[Artashes]

Re: Armenia's Economic Pulse

Somewhere on this forum I read a review of Armenia & Georgia by I think a british trekker.
He praised the simple honesty of the people in Armenia and expressed great pleasure in their lack of gouging the tourist.
He could not say the same for Georgia and other countries if my memory is correct.
Also I recall he thought the "eye candy" (the ladies) of Armenia were stunning.
I have many friends that can afford vacations that go to see the countryside & wilderness.
Personnelaly I think Hayastan has a great deal to offer the trekker. If presented right I think there is great potential (really great) in this area.
The post above says --- NOBODY in Europe ---- maybe just a tad overreaching if not outright absurd.
The mountains and rivers and gorges and the closeness of the sky and the millinea of history, sounds like a dream vacation to me.
Oh, and just the other day I met a fella who when I told him I was Armenian said he was on the team that checks or inspects the metamor NPP to see that it's safe. In our talks he told me he has spent a lot of time in Armenia and the people were friendly and he loved the food. He had an Israeli accent and was part of (can't remember) international inspection.
IMO, if packaged right many will realize what a wonderful place to trekk.
Artashes

[bell-the-cat]

Re: Armenia's Economic Pulse

Somewhere on this forum I read a review of Armenia & Georgia by I think a british trekker.
He praised the simple honesty of the people in Armenia and expressed great pleasure in their lack of gouging the tourist.
He could not say the same for Georgia and other countries if my memory is correct.
Also I recall he thought the "eye candy" (the ladies) of Armenia were stunning.
I have many friends that can afford vacations that go to see the countryside & wilderness.
Personnelaly I think Hayastan has a great deal to offer the trekker. If presented right I think there is great potential (really great) in this area.
The post above says --- NOBODY in Europe ---- maybe just a tad overreaching if not outright absurd.
The mountains and rivers and gorges and the closeness of the sky and the millinea of history, sounds like a dream vacation to me.
Oh, and just the other day I met a fella who when I told him I was Armenian said he was on the team that checks or inspects the metamor NPP to see that it's safe. In our talks he told me he has spent a lot of time in Armenia and the people were friendly and he loved the food. He had an Israeli accent and was part of (can't remember) international inspection.
IMO, if packaged right many will realize what a wonderful place to trekk.
Artashes

Europe has "the mountains and rivers and gorges and the closeness of the sky and the millinea of history", and has more of it than Armenia, and has it in much better condition than Armenia. There is not a single city, town, or village, in Armenia that reflects even 200 years of history, far less a millenia. A single over-restored medieval church in a village full of Soviet-era houses is not in the same league as the entire intact medieval towns you can find in France or Italy. Name me a single attractive settlement that an ordinary tourist would want to trek to in Armenia, or a series of attractive settlements and trails that could be strung together to create something like the long distance treking routes that Europe has in abundance. I thinkt Armenians are as deluded about the mainstream attractiveness of their country to foreigners as the Turks are (though Turkey at least has beaches that will attract mass market tourism even if most of the country is rather unappealing). And don't Armenians think walking is unmanly - drive everywhere or you are indicating to the world that you are a failure? Same in Turkey, btw.

[Artashes]

Re: Armenia's Economic Pulse

Toronto agency hired for Armenia�s tourism rebrand

https://www.theglobeandmail.com/repo...ticle17446435/

Thanks for posting this Mher.
With the right presentation, Hayastan and all it's ancient history and beauty can be introduced to the world.
The mountains and rivers and lonesome churches are ideal for the world trekker.
If handled right, the economy stands to gain a much needed financial boost.
I think your informing of this is a positive rather than the NEGITIVE and degrading posts by --- ----.
Am pretty sure your post was not an invitation for anyone from another country to extol the virtues of another place to the detriment of Armenia. The shear pettiness of that is disgusting.
I'm interested to see what this new PR Canadian firm presents.
Thanks again for the post.
Artashes

[bell-the-cat]

Re: Armenia's Economic Pulse

Thanks for posting this Mher.
With the right presentation, Hayastan and all it's ancient history and beauty can be introduced to the world.
The mountains and rivers and lonesome churches are ideal for the world trekker.
If handled right, the economy stands to gain a much needed financial boost.
I think your informing of this is a positive rather than the NEGITIVE and degrading posts by --- ----.
Am pretty sure your post was not an invitation for anyone from another country to extol the virtues of another place to the detriment of Armenia. The shear pettiness of that is disgusting.
I'm interested to see what this new PR Canadian firm presents.
Thanks again for the post.
Artashes

You live with your fantasy idea of an idealised Armenia if you want. But you seem to forget that it is NOT people like you that the PR firm is intended to market Armenia to (though it is possible that the purpose may not be to actually attract non-Armenian tourists to Armenia - it may just be advertising to give Armenia a more prominant public identity in the wider world).

Take out the business visitors, the diaspora Armenians visiting Armenia, and people coming to engage in practices that are difficult or illegal in their own countries (such as consumption of alchohol, prostitution, gambling, hunting, walking around without a hijab, etc) and what you are left with is a very small and extremely niche-market audience. A market that is so tiny that it is pointless to employ an expensive PR firm to attempt to mass-market advertise it, and an audience that will only diminish with each new state, Church, or mafia-led "revitalization" destruction of its already small stock of historical attractions.