Thursday, March 9 2017 11:35
Marianna Mkrtchyan

Tashir Group, Electric Networks of Armenia and Schneider Electric Company sign a cooperation agreement

Tashir Group, Electric Networks of Armenia and Schneider Electric Company sign a cooperation agreement

ArmInfo. In the framework of his official visit to France, Armenian President Serzh Sargsyan met with the members of the largest employer federation in France Mouvement des entreprises de France (MEDEF). The Federation is a link between the French entrepreneurs, leaders of different countries and private sectors, the press office of the Armenian President reports. 

This structure, which is responsible for international cooperation, promotes and supports activities of French enterprises and through the meetings such as this one creates opportunities for the companies to familiarize with and create conditions for the implementation of their programs. To the French companies working abroad it gives a chance to raise with the guests issues of interest and problems with the anticipation of finding solutions.  At the MEDEF President Serzh Sargsyan made a statement for the heads of French enterprises.  At the conclusion of the meeting, at the MEDEF office there took place the signing ceremony of the agreement on cooperation between the Tashir Group, Electric Networks of Armenia and Schneider Electric Company.

"The historically formed Armenian-French friendly relations form the base not only for our political but also economic relations. This inspires us with confidence that the parties are able to provide for the implementation of pretty large and ambitious economic programs," President Sargsyan noted.

The press office of the Armenian President quotes Serzh Sargsyan as saying, "In 25 years of her independence, Armenia has registered impressive results. Today we have a sustainably developing Armenia which withstands the often unpredictable changes of the global economy efficiently. Recent developments in the region, which were accompanied by the decline of economic indices and steep depreciation of national currencies, proved the vitality of Armenia's tax, credit, and financial policies.  These policies are constantly praised by our international partners and thanks to these policies our country is able to maintain a stable and predictable macro-environment. Success of the economic policy implemented in the country is proved by the reputable international indicators, and on this Armenia is registering a steady advancement each year.  Thus, according to the World Bank's Doing Business report, Armenia occupies the 38th place in the world in terms of simple terms for starting business, while according to the Heritage Foundation's economic freedom indicator we are at 33rd position which means this year alone we moved up by 21 points. Understandably, there are cases when unfavorable positions prompted by different indicators do not play a decisive role in making investments.  For instance, it looks like in case of the neighboring Azerbaijan, which is rich with energy resources, the anticipation of getting super profits, is pushing into the background the indicators which reflect the true situation with the country's economy. Macroeconomic stability alone is certainly not enough for sustainable economic growth. From the viewpoint of increasing our country's competitiveness, the most important thing for us is the constant improvement of the business and investment climate in Armenia, development of human capital, and modernization of the relevant institutions.  We were guided by the same philosophy when undertook constitutional changes in Armenia, which were adopted in

December 2015. With the new Constitution we made p to our state governance system, switching from the semi-presidential to a fully parliamentary system of governance. It is our deep conviction that these changes will also have their positive impact on the vivacity of the economic life in the country. The new Constitution underscores free economic competition, improvement of business environment, and has provision aimed at boosting up the entrepreneurship. Being a land-locked country with scarce energy resources, under blockade from two neighboring states, we have never bent to difficulties. On the contrary, these factors became a locomotive to move forward with the creative ideas and ingenuity of our people.  Thanks to a highly skilled labor force and human capital, today Armenia has become an innovative country which offers high technology solutions. Efforts aimed at the development of information and telecommunication technologies today yield results. In recent years, Armenia has been registering a 20-25% growth in this area, while its share in the GDP is close to 4%."

The President pointed out that even though the trade and economic indicators in Armenia are not gratifying at all, considering the entire of the Armenian-French agenda, potential existing in the Armenian-French bilateral economic relations should not be used to promote the commercial ties only. "We want the French capital to increase its share in Armenia and are ready to provide favorable investment conditions for French businesses," he noted.  "With this regard, I would like to highlight the consistent works carried out towards the encouragement of investments and their increased protection. For instance, in the framework of the implemented reforms it is envisaged to secure by law national and most favorable regimes, to define more precisely the guarantees provided to foreign investors, to allow the entrepreneurs to use the existing and future privileges in Armenia and take advantage of the improved mechanisms for the resolution of investment related disputes. 

Conditions are being created for the expansion of the state-private sector cooperation. To help the businesses and improve the business climate, consistent steps are being taken to reduce paperwork and simplify procedures, including in the tax and customs areas.  Serious steps are made to develop the export policy. Strategy developed by us stresses the importance of increasing exports because it could become the driving force behind the future sustainable growth.  In recent years, considerable steps have been made also aimed at the increase of Armenia's limited internal market. It's been two years that Armenia is a member to the Eurasian Economic Union. The Eurasian integration project has widened the economic borders of its members up to almost 1/7 of the world. It has created a large, almost 170 million strong market with no tax borders.  Days ago, in Brussels together with the President of the European Council Mr. Tusk we announced the conclusion of the negotiations on the new framework agreement with the European Union. The presence in the legal document of the economic component opens new opportunities for the economic activities not only for the Armenian but also European entrepreneurs. Moreover, if used properly and fully, opportunities provided by the agreement allow the economic potentials of the EU and EAEU to be used to mutual benefit.  Our traditionally good-neighborly relations with Iran and economic ties create a good opportunity for the European entrepreneurs to enter via Armenia the 80 million strong Iranian market. The shortest route linking together the seaports of the Persian Gulf and Black Sea also runs through Armenia.

The representative audience present at the conference inspires with confidence that it will be instrumental in opening new opportunities for our countries and for the creation of the best formula to utilize the existing formats of cooperation. I invite French companies to make investments in Armenia. I assure you that we are ready to show an individual approach to each investment project, certainly taking into consideration the needs of the investor.

Our Minister of Economic Development and Investments will make a more detailed presentation with regard to the possible areas and directions of cooperation. He will also present concrete programs," Serzh Sargsyan said.


News
EAEU considers possibility of forming fundamentally new model of  monetary and financial regulationEAEU considers possibility of forming fundamentally new model of  monetary and financial regulation
Tender package for construction of M1 Yerevan-Gyumri-Bavra road  section of North-South project has been approvedTender package for construction of M1 Yerevan-Gyumri-Bavra road  section of North-South project has been approved
Armenia allocates AMD 5.6 billion for socio-economic development of  regions within subvention programsArmenia allocates AMD 5.6 billion for socio-economic development of  regions within subvention programs
Armenia`s pensioners to get 10% cash-back on payments Armenia`s pensioners to get 10% cash-back on payments 
Team Telecom Armenia becomes technology partner of KoreezTeam Telecom Armenia becomes technology partner of Koreez
Armenia to receive $20mln share from customs duties collected in EAEUArmenia to receive $20mln share from customs duties collected in EAEU
Pashinyan receives Executive Director of World Trade Centers  AssociationPashinyan receives Executive Director of World Trade Centers  Association
Vahan Kerobyan on goals of MoE: Vahan Kerobyan on goals of MoE: "Dry Port" of Gyumri will provide 3%  of Armenia`s GDP 
Evocabank replenishes its share capitalEvocabank replenishes its share capital
"The state collects taxes from the economy, but does not spend, thus  reducing economic activity": Luys Foundation 
Investin.am business portal for Private Equity has been launched in  ArmeniaInvestin.am business portal for Private Equity has been launched in  Armenia
YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%
Branch of International Coaching Federation has been opened in  ArmeniaBranch of International Coaching Federation has been opened in  Armenia
Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister 
RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022
MoE reports on results of World Bank`s CARMAC2 programMoE reports on results of World Bank`s CARMAC2 program
Central Bank of Armenia: Prices for food and energy  are expected  to stay at high levelCentral Bank of Armenia: Prices for food and energy  are expected  to stay at high level
CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022
Evocabank to help Armenian postal operator introduce financial  servicesEvocabank to help Armenian postal operator introduce financial  services
Remittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of ArmeniaRemittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of Armenia
Armenia, Iran reached agreement to remove obstacles to increase trade  between two countriesArmenia, Iran reached agreement to remove obstacles to increase trade  between two countries
Wildberries launches direct sales from Armenian entrepreneursWildberries launches direct sales from Armenian entrepreneurs
Armenia`s Minister of Economy WB Country Manager discuss CARMAC IIArmenia`s Minister of Economy WB Country Manager discuss CARMAC II
Armenian, UAE  FMs discuss bilateral cooperation Armenian, UAE  FMs discuss bilateral cooperation 
Armenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration systemArmenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration system
According to UBA level of profitability of the Armenian banking  system is quite lowAccording to UBA level of profitability of the Armenian banking  system is quite low
$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan
Converse Bank bonds can now be purchased via the mobile applicationConverse Bank bonds can now be purchased via the mobile application
UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1
Seyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank depositsSeyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank deposits
UBA: Volumes of lending to the Armenian economy have grown in almost  all areasUBA: Volumes of lending to the Armenian economy have grown in almost  all areas
Team Telecom Armenia to start business data center construction Team Telecom Armenia to start business data center construction 
Discount system in cashless transactions for pensioners to be  introduced in Armenia Discount system in cashless transactions for pensioners to be  introduced in Armenia 
Armenia`s government to allocate  $10mln to road renovation Armenia`s government to allocate  $10mln to road renovation 
Passenger traffic in Armenia reached 40% growth in Q1Passenger traffic in Armenia reached 40% growth in Q1
Armenia, Iran simplify mutual access of investors to FEZ markets of  two countriesArmenia, Iran simplify mutual access of investors to FEZ markets of  two countries
Armenia`s communications sector revenue in Q1 2022 increased by 6.8%Armenia`s communications sector revenue in Q1 2022 increased by 6.8%
Armenia reduced wine production in Q1Armenia reduced wine production in Q1
Pashinyan receives Alexei Overchuk and Andrey RudenkoPashinyan receives Alexei Overchuk and Andrey Rudenko
Tourist flow to Armenia starts to recoverTourist flow to Armenia starts to recover
ARMSWISSBANK receives EBRD award ARMSWISSBANK receives EBRD award "The most Active Issuing Bank in Armenia for 2021"
Natural population decline was recorded in Armenia Natural population decline was recorded in Armenia 
Armenia`s population decreased by 2.3 thousand people by April 1,  2022Armenia`s population decreased by 2.3 thousand people by April 1,  2022
S&P Global Ratings assigns S&P Global Ratings assigns "B-" (Local Currency LT credit rating) to  ASCE Group
Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister 
Turkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar MehrabianTurkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar Mehrabian
Armenia, Iran to consider to increasing gas supplies from Iran to  ArmeniaArmenia, Iran to consider to increasing gas supplies from Iran to  Armenia
Hayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedientHayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedient
Armenia, Iran to sign memorandum to develop cooperation in number of  areasArmenia, Iran to sign memorandum to develop cooperation in number of  areas
Another intermediate subway station to be built in YerevanAnother intermediate subway station to be built in Yerevan
FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concludedFinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded
Armenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  businessArmenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  business
Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022
Armenia`s specific debt burden per capita has already reached $3.2  thousandArmenia`s specific debt burden per capita has already reached $3.2  thousand
Russia, China remain leaders in Armenia`s exports, imports Russia, China remain leaders in Armenia`s exports, imports 
Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University 
Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022
Electricity generation increased by 16.7% in Armenia in Q1 2022 Electricity generation increased by 16.7% in Armenia in Q1 2022 
Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 
About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant 
Read more


Exchange rates
19.05.2022
RUB7.400.18
USD459.401.91
EUR484.072.88
GBP571.033.88
CAD358.572.13
JPY35.980.56
CNY68.040.18
CHF470.6511.55