Tuesday, September 26 2017 17:48

Agricultural machinery producer - CLAAS company is interested in the FEZ Meghri created on the Armenian-Iranian border

Agricultural machinery producer - CLAAS company is interested in the  FEZ Meghri created on the Armenian-Iranian border

ArmInfo. Minister of Economic  Development and Investments of Armenia Suren Karayan with  representatives of CLAAS, the world's leading producer of  agricultural machinery, the chief manager in Central Asia and the  Caucasus of the company CLAAS Global Sales Thomas Shtigler and the  commercial director of the company in Krasnodar, Michael Ritter,  discussed the prospects of activity in RA. According to the  press service of the Ministry of Economic Development,  representatives of the German company expressed interest in the FEZ  created on the Armenian-Iranian border.

Suren Karayan presented the company's representatives with the  privileges and opportunities of economic entities that operate within  the FEZ borders in Meghri. He also stated about the prospects that  are being opened within the framework of cooperation between the FEZ  in Meghri and "Aras" in Iran.

On August 3 the Government of Armenia approved the draft decision on  the establishment of Meghri Free Economic Zone, which was launched  earlier in October 2017. At the first stage, it is planned to equip  the territory adjacent to the Meghri checkpoint, and also to form  physical infrastructures. This will be followed by the provision of  appropriate privileges and the involvement of companies in the FEZ.  The total cost of building FEZ in Meghri is estimated at $ 32  million, of which $ 28 million is capital expenditure. The  construction of the FEZ on the border with Iran is one of the  priority investment programs of the Armenian government and provides  for the creation of a free economic zone with an area of 10-15  hectares, with the possibility of further expansion to 45-50  hectares. Despite the fact that the FEZ has not yet been built, there  are already numerous applications from various companies that have  expressed a desire to start work in the FEZ - more than 10 companies  from Russia, there are also from Iran and Europe. According to the  Ministry of Economy, operation of the FEZ will create 2,500 jobs and  increase exports from Armenia by 30%. The main goal of the FEZ is the  development of trade and economic relations with Iran and other  countries of the region, the development of the Syunik region, as  well as the positioning of Armenia as a link linking Iran with the  EEU countries and Georgia. It is assumed that 100-120 companies will  operate there, whose revenues will reach $ 52 million over 10 years.  The products are planned to be exported to Iran, the countries of the  EEU, the Middle East, Turkmenistan and others. The total investment  of all companies for 10 years is planned to increase to $ 350-400  million. The functioning of the FEZ has already been legislated in  the Customs Code of the EEU. In total, seven such zones will operate  in the system of the duty-free system. 


News
Flyone Armenia launches Yerevan-Antalya-Yerevan direct non-scheduled  flights from June 14Flyone Armenia launches Yerevan-Antalya-Yerevan direct non-scheduled  flights from June 14
Mher Grigoryan: The activities of the trilateral working group, to  unblock transport communications, are definitely productiveMher Grigoryan: The activities of the trilateral working group, to  unblock transport communications, are definitely productive
Team Telecom Armenia improved its mobile network coverage in Yerevan  and all regions of countryTeam Telecom Armenia improved its mobile network coverage in Yerevan  and all regions of country
Warsaw Stock Exchange to acquire 65.03% shares of Armenia Securities   Exchange Warsaw Stock Exchange to acquire 65.03% shares of Armenia Securities   Exchange 
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 
Read more


Exchange rates
20.05.2022
RUB7.810.41
USD458.98-0.42
EUR485.741.67
GBP572.991.96
CAD359.000.43
JPY35.85-0.13
CNY68.01-0.03
CHF472.692.04