Tuesday, October 10 2017 15:41
Naira Badalian

Minister: infrastructure programs worth $ 88 million is planned to implement in 10 cities of Armenia

Minister: infrastructure programs worth $ 88 million is planned to  implement in 10 cities of Armenia

ArmInfo. According to the  results of the regional visits of the Prime Minister of Armenia Karen  Karapetyan, 175 investment projects were received from the Kotayk  region in the first eight months of 2017 from the Kotayk region to  the Ministry of Territorial Administration and Development. The  government approved 58 of them, 15 - funding and another 60 are under  discussion. The Minister of Territorial Administration and  Development David Lokyan stated this to journalists on October 10,  speaking about the results of the annual activity of the ministry.

According to the Minister, 108 out of 175 submitted programs were  discussed with potential investors, were submitted to the court of  the Ministry of Economic Development and Investments and the Central  Bank of Armenia, and transferred to the Government apparatus. 58 of  them received the approval of the Government, and only 15 received  funding. According to Lokyan, the authors of 18 programs did not  accept the proposed interest rate of 12%, 10 asked for grant funds, 5  - for lack of pledged property, 11 - for other reasons. The total  budget of the financed 15 programs amounted to 422 million AMD. The  presented programs concern, in particular, the sphere of processing  of agricultural products, tourism, construction of power stations,  mining industry, and also construction of machine and tractor  stations.

Armenian government also discuss the concept of the creation of  centers for provision of economic growthin the cities of the  republic. Within the framework of the concept, it is planned to  create appropriate infrastructures in the cities. To implement the  first stage of the project, 10 cities will be selected, where  infrastructure programs are planned, in particular in the sphere of  tourism and processing agriculture, worth $ 88 million.

In addition, currently in Armenia - in Dilijan, Gyumri, Noyemberyan,  Kapan, Vaik, Vanadzor, Armavir, with the financing of the EU,  programs worth 10 million EUR were launched, the minister said. The  co- financing of the Armenian government will be 1.75 million EUR.  The programs are aimed at ensuring the economic development of  communities in the areas of IT, renewable energy, tourism, management  of solid domestic waste, processing of agricultural products. As a  result of their implementation, about 500 new jobs are expected to be  created. Thus, the program, launched in Noyemberyan, for the amount  of 1.3 million EUR, is aimed at creating a factory for the production  of dairy products, refrigeration facilities, and orchards based on  drip irrigation. The program will provide 100 jobs. The Vaik project  is aimed at creating a 1 MW solar station. Microsoft in the IT center  in Gyumri is launching a large program that will provide permanent  jobs for about 100 people. IDEA Foundation creates a large tourist  center, in which 20 enterprises will be provided with grant funds,  more than 50 jobs will be created.

At the same time, currently 15 investment programs are implemented in  Armenia solely with the state budget. Their total budget is about 1.5  billion AMD. Another 32 similar programs are waiting for their turn  of funding. One of the programs that received funding involves the  construction of a metallurgical workshop in Ashtarak. The authors of  the project are Armenians from Syria. Two programs are being  implemented in the Vayots Dzor region, one related to the production  of goat cheese and the development of goat breeding, the second -  with the export of canned organic agricultural products. As the  minister pointed out, there is a false impression that Armenia does  not participate in programs financed by international structures. "As  a rule, Armenia takes part in all investment programs carried out on  the territory of the country at a rate of 35%: 25% is directed from  the state budget, 10% from the funds of the community budget," the  minister explained.

POST A COMMENT
Input digits     


News
Armenia commends work carried out towards removing obstacles in EAEU  internal market - Prime MinisterArmenia commends work carried out towards removing obstacles in EAEU  internal market - Prime Minister
EDB is launching a project to expand transport and logistics  infrastructure at Upper Lars checkpointEDB is launching a project to expand transport and logistics  infrastructure at Upper Lars checkpoint
About how Mishustin persuades Pashinyan to build Russian-made nuclear  unit in ArmeniaAbout how Mishustin persuades Pashinyan to build Russian-made nuclear  unit in Armenia
EDB expects to increase throughput capacity of Upper Lars checkpoint  by 15-20% during implementation of project for its modernizationEDB expects to increase throughput capacity of Upper Lars checkpoint  by 15-20% during implementation of project for its modernization
EDB sees two directions for development of public-private partnership  for ArmeniaEDB sees two directions for development of public-private partnership  for Armenia
Initial public offering of Team Telecom Armenia startedInitial public offering of Team Telecom Armenia started
WB improves its Armenia`s GDP growth forecast for 2023 from 4.1% to  4.4% and expects acceleration in 2024-2025WB improves its Armenia`s GDP growth forecast for 2023 from 4.1% to  4.4% and expects acceleration in 2024-2025
UNECE Secretary: Armenia has high potential in high technologies and  innovationsUNECE Secretary: Armenia has high potential in high technologies and  innovations
Kommersant: Armenia and Kazakhstan began to block payment for  supply  of electronics to RussiaKommersant: Armenia and Kazakhstan began to block payment for  supply  of electronics to Russia
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
Read more


Exchange rates
09.06.2023
RUB4.67-0.05
USD386.18-0.86
EUR415.570.28
GBP484.542.02
CAD289.62-0.41
JPY27.68-0.01
CNY54.300.00
CHF428.232.63