South Africa expresses interest in developing cooperation with  Armenia in jewelry and cutting industry 

 Friday, April 19 2024 17:36:00
South Africa expresses interest in developing cooperation with  Armenia in jewelry and cutting industry 

ArmInfo. Minister of Economy of Armenia Gevorg Papoyan met with Ambassador of the Republic of South Africa to Armenia Shoayb Casoo.

Baku will be against construction even in Yerevan: President of Union  of Miners and Metallurgists of Armenia
 Monday, January 29 2024 17:22

ArmInfo. The most important sectors of the Armenian economy, which are of strategic importance  for the republic and capable of providing it with long-term and stable economic growth, are targeted by Baku.

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Strong dram hits miners: Head of Union of Miners and Metallurgists  of Armenia
 Monday, January 29 2024 17:19

ArmInfo. If in 2022 the list of 1000 largest taxpayers in Armenia included 8 mining organizations,  then in 2023 there were already 5 of them. Vardan Janyan, First Deputy General Director of Zangezur Copper-Molybdenum Combine CJSC (ZCMC), President of the Union of Miners and Metallurgists of Armenia  stated on January 29 b during a discussion on the topic "Trends in the economic development of the Republic of Armenia in the context of the economic distribution of large taxpayers" at the Club of Economic Journalists.

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Of approximately 64 thousand legal entities registered in Armenia,  only 8 thousand contribute to economy - Gagik Makaryan
 Monday, January 29 2024 17:18

ArmInfo.The taxes paid by TOP-10 of the list of 1000 largest taxpayers of Armenia make up about  20% of the budget; for example, TOP-10 in Germany pay only 2.5% of taxes. In 2021, the figure in Armenia was 85%, and in 2022 it was only 58.2%. A 1.5-fold decline indicates successful economic diversification.

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EU intends to attract up to EUR 10 billion in investments to  establish EU-Central Asia transport corridor through Transcaucasus  and Turkey, bypassing Russia
 Monday, January 29 2024 14:51

ArmInfo.The European Union intends to attract up to EUR10 billion in investments to establish a  transport corridor from Central Asia to Europe through the Transcaucasus and Turkey, bypassing Russia, but so far Brussels is ready to allocate only EURO 2.97 billion for these purposes in the form of two credit lines from the European Investment Bank (EIB ) and the European Bank for Reconstruction and Development (EBRD), informs  the statement of the European Commission, made within the framework of the Investors Forum for EU-Central Asia Transport Connectivity  that opened in the Belgian capital.

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Iran ready to assist Armenia in reservoir construction 
 Monday, January 29 2024 12:37

ArmInfo. Iran is ready to offer its services in construction of reservoirs in Armenia, Iranian  Ambassador to Armenia Mehdi Sobhani stated at his meeting with Armenia's Deputy Minister of Territorial Administration and Infrastructure Vache Terteryan. 

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EAEU integration model effective - Alexey Overchuk 
 Monday, January 29 2024 12:37

ArmInfo. In 2021-2022, a fivefold increase in money transfers from Russia to Armenia was recorded - from $867 million to $4,385mln. However, the reasons for opening accounts in Armenia were, among other things, gaining access to international payment systems, Russian Vice-Premier Alexey Overchuk stated this in an interview with Expert magazine, speaking about the advantages of the Eurasian Economic Union (EAEU) over the EU.

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Armenia`s real economy "loses" positions to non-export industries -  expert 
 Monday, January 29 2024 12:36

ArmInfo.The results of 2023 indicate that the real (export) economy has "lost" its position to non-export industries, which are experiencing a temporary boom under the influence of exogenous factors, Former head of the State Revenue Committee of Armenia Davit Ananyan wrote on his Facebook account, commenting on the "List of the 1000 largest taxpayers of the Republic of Armenia" recently published by the tax authority.

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Board of directors to decide Fly Arna fate
 Monday, January 29 2024 12:29

ArmInfo.Armenian National Airlines CJSC, better known as Fly Arna, has not been operating  flights since January 10, an informed source told ArmInfo. 

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"LIGA Insurance" tops list of largest taxpayers in Armenia among  insurance companies 
 Friday, January 26 2024 15:56

ArmInfo."LIGA Insurance" topped the list of the largest taxpayers in Armenia among insurance  companies. According to data from the State Revenue Committee, the LIGA Insurance insurance company rose to the 384th place (the 554th in 2022), paying AMD 815.1mln the state budget, of which AMD 682.6mln  as direct taxes.

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Armenian telecom operators increased tax payments to state treasury  by 14% in 2023
 Friday, January 26 2024 15:54

ArmInfo.Four telecom operators in Armenia - MTS Armenia, UCom, Team Telecom Armenia and GNC Alpha - paid 39.2 billion drams to the state treasury in taxes for 2023, which is 14% higher than a year ago. Of this amount, 324.8 million drams were paid for customs duties, 9.7 billion - for direct taxes (including profit tax, income tax) and 17.6 billion - for indirect taxes (including VAT, excise tax).

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For second year in row, ZCMC tops Armenia`s largest taxpayers list 
 Friday, January 26 2024 15:52

ArmInfo.For the second year in a row, the Zangezur Copper- Molybdenum Combine (ZCMC) tops the  list of the largest taxpayers in Armenia. According to data from the State Revenue Committee, the company sent 70.8 billion drams to the state treasury in 2023 (with an y- o-y decline of 50.8%), of which 5.2 billion drams were for customs duties, 27.1 billion. drams - for direct taxes (including profit tax, income tax), 5.6 billion drams -  for indirect taxes (including VAT, excise tax).  

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Suren Tovmasyan: There are no buying and selling restrictions for  foreigners in real estate market of Armenia, except for transactions  with agricultural lands
 Thursday, January 25 2024 15:09

ArmInfo. There are no restrictions for foreign citizens on transactions of purchase and sale of real estate in Armenia, with the exception of the purchase of agricultural lands. Chairman of the Real Estate Cadastre Committee Suren Tovmasyan told reporters on January 25 during a briefing, answering a question about the possible acquisition of real estate in Armenia by citizens of Azerbaijan and Turkey.

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In less than 5 years, average salary has almost doubled in Armenia -  Pashinyan
 Thursday, January 25 2024 13:35

ArmInfo. The average monthly salary in Armenia in December 2023 was 356,180 drams ($880) or  179,741 drams (101.9%) more than in May 2018. The y-o-y growth amounted to 25,273 drams or 7.6%. Prime Minister Nikol Pashinyan stated on January 25 at a meeting of the Cabinet of Ministers.

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From now on, Armenian-produced composite products containing milk  and/or eggs can be exported to EU
 Tuesday, January 23 2024 18:25

ArmInfo.From now on, composite products containing milk and/or eggs  produced in Armenia can be  exported to  European Union (EU) countries.

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Another state investment bubble bursts: MP comments on Fly Arna
 Tuesday, January 23 2024 18:19

ArmInfo. Opposition MP from the <Armenia> faction Tadevos Avetisyan, commenting on rumors circulating  in the media about serious financial problems of Fly Arna, declares the dissipation of public funds and demands an answer from officials.

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Vahan Kerobyan: Germany is most interested in Armenia`s energy  sector, construction of reservoirs, infrastructures
 Tuesday, January 23 2024 15:38

ArmInfo. Germany today is most interested in Armenia's energy sector, the construction of reservoirs and infrastructure; programs for the SME sector are also being considered. Armenian Minister of Economy Vahan Kerobyan announced in an interview with Public Television, summing up the results of his recent visit to Germany.

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Vahan Kerobyan: Transferring Amulsar`s shares to government was  solution acceptable to both parties at moment
 Tuesday, January 23 2024 15:35

ArmInfo. The transfer of shares by the Lydian Armenia company, which operates the Amulsar mine, as a gift to the government of Armenia was the company's decision. Head of the economic department, Vahan Kerobyan, announced in an interview with Public Television.  "Taking the government as a partner is advisable for the company in the context of creating a more comfortable working environment; moreover, thanks to this step,  many risks will be leveled," the minister said.

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UAE to top list of Armenia`s investment partners in 2023 
 Tuesday, January 23 2024 13:10

ArmInfo. The United Arab Emirates (UAE) will top the list of Armenia's investment partners for  2023 and will be the 2nd largest trade partner of Armenia, Armenia's Minister of Economy Vahan Kerobyan told Armenia's Public TV. 

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Armenia in TOP-7 wine regions recommended for tourists to visit
 Monday, January 22 2024 18:40

ArmInfo.Armenia, as wine region, attracted the attention of the Wine Enthusiast Magazine, one  of the most respected and quoted authorities in the world of wine and spirits.

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First stage of Dry Port project requires investments totaling $45mln
 Monday, January 22 2024 13:40

ArmInfo. At the first stage, the implementation of the Dry Port project will require investments in the amount of $45 million, of which $7.9 million from the government, $37.1 million from the operating company, Charle Malas, Advisor to Armenia's Minister of Economy told Armenia's Public TV. 

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News
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South Africa expresses interest in developing cooperation with  Armenia in jewelry and cutting industry South Africa expresses interest in developing cooperation with  Armenia in jewelry and cutting industry 
Armenia, UAE discuss possibilities of increasing mutual trade volumesArmenia, UAE discuss possibilities of increasing mutual trade volumes
Yerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientistYerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientist
KfW stands ready to support Armenian government  in implementation of  new projectsKfW stands ready to support Armenian government  in implementation of  new projects
Cooperation with German Fichtner company discussed Cooperation with German Fichtner company discussed 
Armenia, China can record much greater results both in economic and  political dialogue and cultural cooperation - MPArmenia, China can record much greater results both in economic and  political dialogue and cultural cooperation - MP
U.S. capital important for Armenia`s mining industryU.S. capital important for Armenia`s mining industry
Expert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisionsExpert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisions
Armenia introduces new rules for labeling carbonated, non-carbonated  watersArmenia introduces new rules for labeling carbonated, non-carbonated  waters
Arsen Bazikyan: Armenia`s agriculture is transforming into  agribusinessArsen Bazikyan: Armenia`s agriculture is transforming into  agribusiness
Armenia to join e-CMR protocolArmenia to join e-CMR protocol
Armenia`s government changes Kaps reservoir project funding Armenia`s government changes Kaps reservoir project funding 
Armenian FM, minister of economy of Saudi Arabia discuss development  of economic ties Armenian FM, minister of economy of Saudi Arabia discuss development  of economic ties 
IMF upgrades Armenia`s GDP growth forecast for 2024 from 5% to 6%,  expecting inflation at 3.1% and unemployment at 13%IMF upgrades Armenia`s GDP growth forecast for 2024 from 5% to 6%,  expecting inflation at 3.1% and unemployment at 13%
Armenia`s Deputy PM, Veolia Vice President discuss problems with  water supply to consumers Armenia`s Deputy PM, Veolia Vice President discuss problems with  water supply to consumers 
EEC Board decided to liberalize certain categories of precious  metals` import/exportEEC Board decided to liberalize certain categories of precious  metals` import/export
Earthquakes, drought could affect Armenia`s debt sustainability -  EFSDEarthquakes, drought could affect Armenia`s debt sustainability -  EFSD
Converse Bank starts initial placement of next AMD, USD bonds in  amount of AMD 5 billion, $10 millionConverse Bank starts initial placement of next AMD, USD bonds in  amount of AMD 5 billion, $10 million
USAID releases fact sheet following Joint EU-US-Armenia High Level  Meeting in Support of Armenia USAID releases fact sheet following Joint EU-US-Armenia High Level  Meeting in Support of Armenia 
Expert: Armenia has the potential to get high-quality and abundant  harvest of apricots this yearExpert: Armenia has the potential to get high-quality and abundant  harvest of apricots this year
EFSD presents assessment of potential impact of natural disasters on  debt sustainability of Armenia, Kyrgyzstan and TajikistanEFSD presents assessment of potential impact of natural disasters on  debt sustainability of Armenia, Kyrgyzstan and Tajikistan
Armenia is considering appointing attache in Silicon ValleyArmenia is considering appointing attache in Silicon Valley
Astana proposes joint investment programmes in Yerevan Astana proposes joint investment programmes in Yerevan 
Armenia, Kazakhstan have unrealized economic potential - premier Armenia, Kazakhstan have unrealized economic potential - premier 
Armenia, EU discuss expansion of economic cooperation Armenia, EU discuss expansion of economic cooperation 
Transavia airline starts operating route Lyon-Yerevan-LyonTransavia airline starts operating route Lyon-Yerevan-Lyon
EAEU and its economic principles should not be mixed with political  ambitions - Nikol PashinyanEAEU and its economic principles should not be mixed with political  ambitions - Nikol Pashinyan
Armenia, Australia to strengthen cooperation in high-tech field Armenia, Australia to strengthen cooperation in high-tech field 
Leasing EXPO -2024 officially opened in YerevanLeasing EXPO -2024 officially opened in Yerevan
Araratbank to double leasing portfolio by end of 2024Araratbank to double leasing portfolio by end of 2024
Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis Armenian, Kazakh passenger and cargo carriers to be exempted from  road and environmental taxes on reciprocal basis 
Economy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s productsEconomy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s products
Info about IT specialists leaving Armenia en masse has nothing to do  with reality - premierInfo about IT specialists leaving Armenia en masse has nothing to do  with reality - premier
WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% WB improves Armenia`s   economic growth forecast for 2024 from 4.7%  to 5.5% 
Government is ready to share risks with agricultural insurersGovernment is ready to share risks with agricultural insurers
EIB to issue loan under energy efficiency programme to Armenia EIB to issue loan under energy efficiency programme to Armenia 
Deadline for filing personal income declarations in Armenia may be  extendedDeadline for filing personal income declarations in Armenia may be  extended
ADB intends to expand its areas of activity in ArmeniaADB intends to expand its areas of activity in Armenia
ADB forecasts 5.7% economic growth for Armenia in 2024ADB forecasts 5.7% economic growth for Armenia in 2024
Conversebank to present its Converse Leasing product at annual  Leasing ExpoConversebank to present its Converse Leasing product at annual  Leasing Expo
By rebranding, INGO Armenia IC begins new stage of developmentBy rebranding, INGO Armenia IC begins new stage of development
Some countries refusal to service Russian Mir bank cards against  common interests - Elvira NabiullinaSome countries refusal to service Russian Mir bank cards against  common interests - Elvira Nabiullina
USAID to invest additional $33mln in Armenia`s economy USAID to invest additional $33mln in Armenia`s economy 
Idplus Bonuses in Idram&IDBank ApplicationIdplus Bonuses in Idram&IDBank Application
Deputy PM: we are ready for any assistance to contribute cargo  aviation establishmentDeputy PM: we are ready for any assistance to contribute cargo  aviation establishment
Mkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterallyMkhitar Hayrapetyan on TV broadcasting agreement with RF: If our  proposals are not taken into account, we do not rule out possibility  of terminating agreement unilaterally
Armenia, Iran discuss organization of joint production in various  branches of economy Armenia, Iran discuss organization of joint production in various  branches of economy 
ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  ADB ready to fund northern section of Sisian-Kajaran highway of  North-South transport corridor  
Armenia`s Ministry of High-Tech Industry developing sectoral strategy Armenia`s Ministry of High-Tech Industry developing sectoral strategy 
Armenia`s footwear exports to Russia 11 times up Armenia`s footwear exports to Russia 11 times up 
EDB sets course for digital future of transportation at joint EEC and  ESCAP eventEDB sets course for digital future of transportation at joint EEC and  ESCAP event
Team`s Next Generation Networ is already available in AshtarakTeam`s Next Generation Networ is already available in Ashtarak
Kazakhstan`s potential exports to Armenia total $350mln - minister Kazakhstan`s potential exports to Armenia total $350mln - minister 
Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier Armenia`s economy to face crisis if Moscow severs economic ties with  Yerevan - ex-premier 
Acquisition of Ameriabank by BOGG PLC int`l financial group completedAcquisition of Ameriabank by BOGG PLC int`l financial group completed
Armenian service sector generated revenue of $1.2 billion in first  two monthsArmenian service sector generated revenue of $1.2 billion in first  two months
EEC: EAEU common electricity market is at high level of readinessEEC: EAEU common electricity market is at high level of readiness
Armenia`s metallurgical industry increased production volumes by 37%  in first 2 monthsArmenia`s metallurgical industry increased production volumes by 37%  in first 2 months
Idram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment PrinciplesIdram and IDBank participated in the signing ceremony of the Declaration of Women`s Empowerment Principles
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