Thursday, April 20 2017 16:38
Naira Badalian

Armenian Government threatens to deprive impractical businessmen licensees in subsurface acquisition sphere

Armenian Government threatens to deprive impractical businessmen  licensees in subsurface acquisition sphere

ArmInfo. "We will hold auditing of  all presented licensees in subsurface use sphere", Armenian Prime  Minister Karen Karapetyan stated during the Government session on  April 20.

According to him, current legislation in subsurface use sphere  stipulates the governing conditions, monitoring and processing  entities accountability. With that the criteria of conducting  monitoring and orders of reports presenting are not fixed. As a  result of these legislative gaps, there is no opportunity to estimate  the real affect of subsurface acquisition, as well as to undertake  relevant preventative means. 

With that, the Prime Minister instructed Minister of Nature  Protection to process and present the Government the package of legal  acts in three months, based on international experience, which will  cause the possibility to regulate the conducting procedure  correspondent to the monitoring and assignment of accountability. 

Referring to the Minister of Energetic Infrastructures and Natural  resources, Karen Karapetyan noted, "We will conduct auditing of all  assigned licensees and the obligations on investments".

The head of the Government stressed that processing entities were  warned once. "We told them to give us projects. With those, who will  present projects, we will sit and reach agreements, we will register  several terms. With those, who would not react, we will talk very  toughly on canceling the licensees", Karen Karapetyan stressed.

To recall, earlier appropriate modifications to the licensing  procedures were  approved by the Government at its session on  February 16. According  to Ashot Manukyan, The Minister of Energy  Infrastructures and Natural  Resources, according to the actual  procedure, the subsoil operators   possess a permission to operate   lands without any competition. At  the same time, the same procedure  sets forth the construction right obtaining based only on the  appropriate tender procedure. New  procedure allows to build up and  operate underground facilities  without a competition or a bidding  process.  

Answering the question of Prime Minister Karen Karapetyan what it   will give to the sector entities, the Minister clarified: "Today   subsoil operators, obtaining the right to operate lands, should be   ready to settle their further transactions and liabilities related   with the owners of lands mentioned. If they could obtain the land   leasehold right without a tender, than the right to   launch   construction works and  all the appropriate permits could be obtained   just and only based on the results of  a tender. This raises   additional obstacles for business, and within the purpose to cancel   those obstacles, we offer to grant such rights without a tender as   well," Ashot Manukyan stated.  Earlier Armenian Government, meeting  the wishes of the mining sector  companies, has submitted to National  Assembly a draft package on tax  discount modifications to make the  tax load easier.  According to  Khachatryan, in the result of this  arrangement, in the case the  indirect method of evaluation is  applied to the royalty tax base, it  is proposed to implement the 80%  limit instead of actual 90%/ It is  expected also, that starting with  2017, the base used for he  calculation royalty will stand  essentially closer to the limits of  benefits obtained. 

To remind, in 2016, the industrial produce in Armenia grew 6.7%   versus 2015  (against 5.2% growth a year before) to AMD 1.429 trln   ($2.9bln). Improvement of processing industry dynamics and continuing   upward trend of mining sector, which traditionally remains the key   driver in the industry  dynamics, contributed to acceleration of   growth rates.  In Dec 2016 alone, the industrial output increased   6.4% (versus 9.3% rise in Dec 2015) to AMD 143.4 bln  (297 mln USD).   In Jan-Dec 2016 versus the same period of 2015, mining industry and   open pit mining increased 8.3% (versus 50.4% growth a year before) to   256.4bln drams. In Dec alone, the mining industry output totaled 23.6   bln drams with a 2.2% monthly growth. 

Manufacturing industry  increased 7.7% y-o-y (vs 5.6% decline a year  before) to AMD 885 bln ,  AMD 89.2 bln of which  - in December with  4.9% monthly growth.  Production of non-metallic mineral products  declined by 20.4% in  Jan-Dec 2016, chemical industry output fell by  8.7%, textile  production by 4.8%. In the meantime, jewelry output  rose 97.7%,  production of computers, electric and optic equipment -  by 27.5%,  production of tobacco- by 23.5%, and clothes - by 16.4%.  In the  manufacturing industry segment, food output made up 287.3  AMD, base  metals - 152.5 bln AMD, cigarettes - 135.1 bln AMD, and  beverages -   110.9 bln AMD.

POST A COMMENT
Input digits     


News
To attract investors to industrial sector  of Armenia, it is necessary to show that country has sufficient  capacities, only  large-capacity unit can cope with this taskTo attract investors to industrial sector  of Armenia, it is necessary to show that country has sufficient  capacities, only  large-capacity unit can cope with this task
Interdepartmental working group to be established in Armenia to  discuss construction on new nuclear unit issues Interdepartmental working group to be established in Armenia to  discuss construction on new nuclear unit issues 
Governor of Gegharkunik: Sotk Gold Mine has ceased operations Governor of Gegharkunik: Sotk Gold Mine has ceased operations 
Metallurgical works to be constructed in Yeraskh to produce ferrous  metal, pipes, fittingsMetallurgical works to be constructed in Yeraskh to produce ferrous  metal, pipes, fittings
Ozon to enter Armenia`s market this autumnOzon to enter Armenia`s market this autumn
Armenia`s government discusses relaunch of Amulsar project Armenia`s government discusses relaunch of Amulsar project 
Konstantin Vladimirovich Tserazov: “In September, we expect a systematic recovery of indices”Konstantin Vladimirovich Tserazov: “In September, we expect a systematic recovery of indices”
Konstantin Tserazov: “The Russian stock market has enough reasons for optimism”Konstantin Tserazov: “The Russian stock market has enough reasons for optimism”
FLYONE ARMENIA airline sets itself the task of transferring 1  million passengers in 2023FLYONE ARMENIA airline sets itself the task of transferring 1  million passengers in 2023
Armenian expert on risks of further domestic debt growth Armenian expert on risks of further domestic debt growth 
Team Telecom Armenia is undertaking its initial public offering (IPO) Team Telecom Armenia is undertaking its initial public offering (IPO) 
Groundbreaking ceremony of new Meghri checkpoint took place todayGroundbreaking ceremony of new Meghri checkpoint took place today
By end of 2023, Armenia to register 2nd largest economic growth and  lowest inflation rate among EAEU countries. But risks still remain -  EDBBy end of 2023, Armenia to register 2nd largest economic growth and  lowest inflation rate among EAEU countries. But risks still remain -  EDB
Vahan Kerobyan: Armenia may become an operator in Iranian port of  ChabaharVahan Kerobyan: Armenia may become an operator in Iranian port of  Chabahar
Tax collections overfulfilled by almost 20% - State Revenue Committee  of ArmeniaTax collections overfulfilled by almost 20% - State Revenue Committee  of Armenia
Money transfers actively flowing to Armenia from Russia are no less  actively flowing  to U.S.Money transfers actively flowing to Armenia from Russia are no less  actively flowing  to U.S.
Armenia`s economy minister meets with SME Cooperation Association  repsArmenia`s economy minister meets with SME Cooperation Association  reps
Converse Bank to present Converse Leasing product at Leasing Expo  2023 exhibition Converse Bank to present Converse Leasing product at Leasing Expo  2023 exhibition 
IDBank`s Visa Business Platinum card now with more profitable termsIDBank`s Visa Business Platinum card now with more profitable terms
Armenia, Georgia discuss joint investment projectsArmenia, Georgia discuss joint investment projects
Armswissbank issues 3 bonds from 1st of juneArmswissbank issues 3 bonds from 1st of june
Ministry of Territorial Administration and Infrastructures believes  that regular flights at Kapan airport to be launched this yearMinistry of Territorial Administration and Infrastructures believes  that regular flights at Kapan airport to be launched this year
FLYONE ARMENIA launches  Yerevan-Tehran-Yerevan direct flightsFLYONE ARMENIA launches  Yerevan-Tehran-Yerevan direct flights
Decline in sales volumes in duty-free stores forced government to  ease tight restrictions on cash transactionsDecline in sales volumes in duty-free stores forced government to  ease tight restrictions on cash transactions
Vahan Kerobyan: feasibility study of Dry Port project is being  carried out by Dutch company; results to be ready in a few monthsVahan Kerobyan: feasibility study of Dry Port project is being  carried out by Dutch company; results to be ready in a few months
PSRC: there are opportunities in Armenia for construction of solar  power plants with a total installed capacity of up to 1 thousand  megawatts, but...PSRC: there are opportunities in Armenia for construction of solar  power plants with a total installed capacity of up to 1 thousand  megawatts, but...
Minister: domestic and international tourism indicators equalized in  ArmeniaMinister: domestic and international tourism indicators equalized in  Armenia
Pashinyan: Since July 1, 2023, RA citizens` pensions to be increased  once againPashinyan: Since July 1, 2023, RA citizens` pensions to be increased  once again
Growth of budget revenues conditioned by three main factors: economic  growth indicators, shadow reduction, implemented reforms - PashinyanGrowth of budget revenues conditioned by three main factors: economic  growth indicators, shadow reduction, implemented reforms - Pashinyan
AraratBank underwrites FINCA UCO bondsAraratBank underwrites FINCA UCO bonds
Team NGN`s 25Gbps network is already available to 150,000 households  in ArmeniaTeam NGN`s 25Gbps network is already available to 150,000 households  in Armenia
Pashinyan: Armenia considers it important to form collective food  security system in EAEUPashinyan: Armenia considers it important to form collective food  security system in EAEU
Trade, services and construction continue to be main drivers of  double-digit growth in economic activity in ArmeniaTrade, services and construction continue to be main drivers of  double-digit growth in economic activity in Armenia
Armenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New YorkArmenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New York
Transavia Airlines to start Marseille-Yerevan-Marseille operating  flightsTransavia Airlines to start Marseille-Yerevan-Marseille operating  flights
Georgia refutes information about launch of shipment to NovorossiyskGeorgia refutes information about launch of shipment to Novorossiysk
Batumi-Novorossiysk ferry service put into operation Batumi-Novorossiysk ferry service put into operation 
Plant producing aluminum radiators to be put into operation in  ArmeniaPlant producing aluminum radiators to be put into operation in  Armenia
Vahan Kerobyan on Vahan Kerobyan on "impressive" indicators of FDI in Armenian economy
Yerevan brandy company could stop exports to RussiaYerevan brandy company could stop exports to Russia
Kaps reservoir construction project resumed in Armenia Kaps reservoir construction project resumed in Armenia 
CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization 
ANIF to invest EUR 3.9mln in Universal Closures company ANIF to invest EUR 3.9mln in Universal Closures company 
Germany to assist Armenia in strengthening local government systemGermany to assist Armenia in strengthening local government system
Fix Price announces entry into Armenia`s marketFix Price announces entry into Armenia`s market
Presentation of ROBBO company held in Armenia Presentation of ROBBO company held in Armenia 
EBRD improves its GDP growth forecast for Armenia EBRD improves its GDP growth forecast for Armenia 
FLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-YerevanFLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-Yerevan
Armenian Diaspora of United States is ready to invest in  technological development of ArmeniaArmenian Diaspora of United States is ready to invest in  technological development of Armenia
CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023
Foreigners` transactions on buying and selling property  reduced in  ArmeniaForeigners` transactions on buying and selling property  reduced in  Armenia
In Yerevan, real estate market activity is declining, but prices  continue to riseIn Yerevan, real estate market activity is declining, but prices  continue to rise
RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia 
German investments for the sake of Armenia`s sustainable developmentGerman investments for the sake of Armenia`s sustainable development
Bright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sectorBright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sector
EDB discusses and implements number of energy projects in Armenia -  Head of BankEDB discusses and implements number of energy projects in Armenia -  Head of Bank
EDB is ready to support Amulsar mine development project - PodguzovEDB is ready to support Amulsar mine development project - Podguzov
Armenian-Czech business forum held in Prague Armenian-Czech business forum held in Prague 
Armenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEWArmenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEW
EAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with IranEAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with Iran
Read more


Exchange rates
06.06.2023
RUB4.770.01
USD387.04-0.24
EUR414.130.01
GBP480.550.83
CAD288.360.42
JPY27.760.15
CNY54.46-0.16
CHF426.581.46