BUSINESS & ECONOMY
“We have many investment initiatives and look forward to getting your support in presenting them to Poland’s business circles. I am convinced that we have great potential for activating and developing economic relations,” the Premier said.
Armenia’s economic activity index for JanuaryMarch 2017 surpassed the index of the same period of the previous year by 6.6%.
In the first quarter of 2017 compared with the same period of 2016 number of tourists visiting Armenia has grown by 18.2%. Zarmine Zeytuntsyan, Chairperson of State Tourism Committee of the Ministry of Economic Development and Investments, told about this recently.
The ights will be operated on Mondays, Wednesdays and Fridays. This airline currently operates ights to almost all European countries from Istanbul. Pegasus is one of the most active airlines in the region.
“Within the framework of investment program, the Ararat Wine Factory aims at acquiring beverage production and bottling lines which will further improve the production quality and will increase the production volumes.”
Suren Karayan, Minister of Economic Development and Investments, said the Lydian Armenia CJSC has carried out geologicalexploratory works in Syunik and Vanadzor provinces as a result of which they found gold quartzite deposits.
“Today we are going to present Spayka company’s investment programs of 2017 to Armenia’s President Serzh Sargsyan. We plan to carry out several big projects that will create more than 300 jobs, and more than 70 million USD investments will be made in Armenia,” he said.
Barrel is the unit of measurement of oil volume. One barrel equals to 159.98 liter. New York’s NYMEХ (New York Merchantile Exchange) is a US futures market founded in 1882.
Based on data issued by the Central Bank of Armenia, volume of loans allotted to residents by Armenia’s trade banks (or loan portfolio) comprised AMD 2 trillion 52.9 billion in late February 2017.
“After establishment of EAEU it was generally stated that numerous countries attempt to cooperate, sign a free trade agreement with that union, however, until now only 1 country has signed it—Vietnam, which signed it with exceptions. Names of more than 40 countries have been given, neither of which has signed it.”
Economic year of 2016 wasn’t successful—weak economic activity was recorded—0.5%, and instead of anticipated 2.2% real GDP growth it comprised only 0.2%.
While summing up economic year in January and introducing anticipations for the upcoming year Azerbaijani president stated that “The biggest blow to the national economy was recorded from the side of the banking system.”
PM Karen Karapetyan’s and Samvel Karapetyan’s fund to carry out USD 300 mln investment programs in Armenia
“Investors’ Club of Armenia”, created by the initiative of Prime Minister Karen Karapetyan and President of “Tashir” group of companies, famous businessmen Samvel Karapetyan, plans to make 300 million USD investment programs in Armenia in 2017, Ashot Manukyan – Minister of Energy Infrastructures and Natural Resources, said at the Government session.
As result, around 18 tons of agricultural products, mainly tomatoes, were discovered. The smugglers attempted to transport the products in hidden storages of vehicles. All attempts were prevented, the SRC told.
During the reporting period, the balance of loan and grant resources from external sources was added by 1,6 billion drams – instead of using the planned 4,6 billion drams under the first quarter. Armenia’s net external financial assets comprised -10,9 billion drams in January-February (104,8% of the quarterly program) in comparison to the planned 10,4 billion.
Economic growth of the first two months of ongoing year was impressive-about 6%. Double digit growth indices for industry and services, foreign trade were impressive as well. However, there is one index, which doesn’t comply with the temp of economic activity. It refers to real estate market.
According to the data of the Eurasian Economic Commission, the prices in Armenia’s consumer market decreased by 0.9% in February compared to January, whereas compared to February 2016, the decrease was 0.4%.
Azerbaijan has raised hysteria after Karabakhi vodka appeared in Duty Free. The Moscow office of the Azerbaijani haqqin.az news agency has “emotionally” responded to the sale of grape and apricot, as well as other types of “Karabakh” vodkas in St. Petersburg’s Pulkovo airport’s Duty Free zone.
Around 7500 hectares area of Ararat Valley will be soon provided by reliable irrigation system: construction of Vedi reservoir has been launched. With 29 million m3 total capacity, this reservoir is the first to be built from zero in the history newly independent Republic of Armenia.
The European Union is launching a grant program worth 1.5 million euros designed to strengthen the capacity of Armenian civil society, the head of the EU Delegation to Armenia, Piotr Switalski, told journalists on Monday.
Presenting the steps taken, the PM said Armenia-Georgia-Russia trilateral talks were held aimed at reducing the tariffs for the cargo transportation at abovementioned routes.
In Arabkir the index comprised AMD 357 450, and in Kanaker-Zeytun—AMD 280 500. In Davitashen average market price per 1m2 comprises AMD 277 thousand, in Avan—AMD 261 thousand, Shengavit—AMD 256 thousand, Nor Nork—AMD 254 300, Erebuni—AMD 249 600, and in Ajapnyak—AMD 249 850.
Armenia’s state debt as of February 2017 comprised AMD 2 trillion 901.3 billion or USD 5 billion 961.2 million. Compared with the beginning of the year Armenia’s state debt has grown by USD 25.7 billion, from which: government’s external debt in USD expression almost hasn’t changed, it remained within USD 4.3 billion.
“For instance, the World Bank, the European Investment Bank, Asian Development Bank, provide loans, while we provide grants,” he said.
Central Electoral Commission (CEC) of Armenia has calculated preliminary results of parliamentary elections held on April 2 based on data received from all 2009 polling stations.
In January-February of 2017, 4 million 500.1 thousand liters of brandy was produced in Armenia, Armenpress reports citing the data of the National Statistical Service. In January-February, 2016 the brandy production comprised 1 million 992.9 thousand liters, whereas in January-February of this year it exceeded the figure of last year by over 2.3 times.
National Statistical Service of Armenia issued statistics of investments for 2016. As April 1 is the silence day of election campaign, we won’t reflect to promises of political powers and their programs. Instead, we’ll introduce what snapshot we had in 2016, how much investments we had, from which countries and in which fields.
Armenian exports in JanuaryFebruary, 2017 amounted to 273 million and 696.5 thousand USD. The data released by the National Statistical Service of Armenia show this number amounted to 227 million and 976.7 thousand USD in the same period of 2016. The increase is 20.1%.
Pharmaceutical factory established by Syrian-Armenian businessmen in Armenia to enable 30- 40% price reduction of drug
CEO of the Tufenkchi Group factory Carlo Gaspar said the factory plans to produce 350-400 thousand USD worth of production in 2017 and create 25-30 jobs. “In the future it is planned to expand production, which will result in an addition 50-60 jobs.
“It’s just that tickets under this price will be limited”, he said. In accordance to an agreement between Taron-Avia airlines and the General Department of Civil Aviation, Taron-Avia will launch regular and charter flights from April 2017 from Gyumri’s Shirak airport.
Foreign investments have become one of the most contemporary promises of this election campaign. Almost all promise investments, some—many, some—few, some give exact numbers and some—not.
I won’t believe until project and sources are known: Suren Karayan on Gagik Tsarukyan’s 15 billion investments
“I consider realistic the programs, funding of which is already available, when there is investment program, there is funding and implementer. Under those 3 circumstances only I consider programs realistic,” Suren Karayan
Free economic zone (FEZ) in Syunik will function until October of ongoing year. Suren Karayan, Minister of Economic Development and Investments of Armenia, told reporters today.
Head of BBC regional representative offices for Armenia and several other countries Sergey Stanovkin, who is holding two-day seminar on strategic communication and tourism brand in Yerevan, says Armenia has a great future for tourism development since here everything exists except communication. He stated that the world knows little about Armenia.
The Belarusian Belavia airlines resumes direct flights with MinskYerevan-Minsk route starting from May 2017, press service of Armenia’s General Department of Civil Aviation told.
The barber is asked what the reason of cancer emergence is and he says: from shaving at home. We use this humor to show how the so-called cause-and-effect connection may be distorted and introduced per appropriateness.
The construction of Armenian-Iranian railway is still being discussed. Vahan Martirosyan, Minister of Transport, Communication and Information Technologies, said there is a concession contract with a company within the framework of which discussions are being held with investors and that company.
“EEU starts to overcome implications of unfavorable economic atmosphere,” Tatyana Valovaya, Member of the Board – Minister in charge of Integration and macroeconomics of the Eurasian Economic Commission (EEC), told reporters today, introducing important economic indices of EEU for 2016.
“Right now we are holding a referendum on April 16 and after that we could choose to do a second one on the (EU) accession talks and we would abide by whatever our people would say there,” Erdogan saying as quoted by Deutsche Welle.