Mr Jan van Bilsen is IFC’s newly appointed Regional Manager for the South Caucasus.
Amulsar requires a very large investment. Construction costs are estimated at US$426 million. There are also other costs and contingencies to fund, which will likely add an additional 10-20%.
By results of the year, the Bank has strengthened its position among the top three of the banking system by all key indicators. Net profit income for the year 2014 has been AMD 4,2bln.
The company will also pay approximately US$ 1m a year to local government budget in the form of land payments. However, the impact of the project on the economy will be significant also in terms of employment in the region, and the multiplier effect an operation like Amulsar will have on local businesses.
Interview with the Executive Vice President of Lydian International Didier Fohlen.
The next major station on the way is the summit in Riga in May 2015. Hopefully, at that point we will be able to confirm that further progress has been made and take new steps to develop our relation. Armenia has a committed partner in the EU – we are here for the long term.
The economic development of the past years in Armenia has been mostly due to the mining industry as during the past five years the growth in this industry was almost doubled.
Besides analyzing the economic developments in 2013, the WB’s experts put down forecast for this and next year as well. The report forecasts that this year and in 2015 Armenia’s economic growth rate may be 5%. According to the WB, Armenia’s GDP per capita will be 3,752 dollars this year, and 4,110 next year.
The RA Supervisory Committee (SC) has published an annual report for 2013. The report includes a lot of violations, however, some of them are new due to their nature. These new findings concern offshore companies that misspent funds of the Armenian budget.
Tigran Sargsyan is well-known as an opponent to Armenia’s membership to the Union. However, he obeyed the decision of September 3 as a statesman. In order to be successful within the Customs Union it is necessary to get rid first of all of the internal opposition. If you want to get in the water make sure you swim, if not don’t go in there. Everything is clear.
