Monday, January 21 2019 21:00
Tatevik Shahunyan

Nikol Pashinyan at a meeting with Swiss businessmen: Armenia is at  the crossroads of economic prosperity

Nikol Pashinyan at a meeting with Swiss businessmen: Armenia is at  the crossroads of economic prosperity

ArmInfo."Armenia is at the crossroads of economic prosperity, or stagnation". This was during an official dinner with Swiss businessmen and representatives of the  Switzerland-Armenia Chamber of Commerce in Zurich, said Dominique de  Bumann.He recalled that recently historical events occurred in  Armenia, leading to the victory of democracy, which was supported by  the parliamentary elections held in December. 

"These transformations are already irreversible," the prime minister  assured.According to him, today the government and the government as  a whole enjoy unprecedented public support. "And in the wake of this  support, we initiated ambitious transformations. As a result, the  situation in Armenia is now significantly different from that before  the revolution," Pashinyan stressed.

In particular, he assured, the level of corruption has significantly  decreased, monopolies have practically disappeared, and measures have  been taken to strengthen the independent judicial system and create  equal conditions for all economic and political players."Despite this  progress, today we must carry out an economic revolution in order to  meet the expectations of our people," said Pashinyan, adding that the  7.5% GDP growth recorded in 2017 persisted in 2018 and in 2019 th is  projected 5% economic growth.  According to him, the ratio of GDP to  exports in 2017 was 37% and this rise continued at a record pace in  2018 as well. "However, these rates cannot satisfy us if we want to  secure Armenia's worthy place in the world economic market," the  premier said, stressing that investments that will create new jobs  and stimulate exports are the cornerstone of economic growth in  Armenia."The authorities and the people are united in these plans.  The people want to work more in the absence of corruption," the prime  minister assured. In order to implement all these steps, as Pashinyan  said, the Armenian government opens its doors to foreign investors  with the motto "Enrich and Enrich."

"To this end, we intend to reform the Tax Code in accordance with the  expectations of investors, creating tax and customs incentives. In  addition, economic agents operating in Armenia have access to world  markets, taking into account the membership of the Republic in the  Eurasian Economic Union and the use of European trade preferences GSP  and GSP +. In addition, we guarantee free transit of capital and  protection of property, "- said the prime minister.He stressed that  Armenia has a small domestic market, but a great value and creative  potential. "We have to show our potential to the world, and this  means a greater volume of exports of goods and services," said  Pashinyan, stressing that the basis of the Armenian economy is the  creativity and talent of the Armenian people.The Prime Minister spoke  about the priorities of the government in a number of areas. Thus, in  the industry, emphasis will be placed on the development of  pharmacology and biotechnology. "We must integrate the latest  technologies in the industry, identify and eliminate obstacles  through dialogue with businessmen," - said the prime minister. Among  the competitive areas he called the textile industry, the shoe  industry, jewelry and watchmaking. For the development of industry,  the prime minister focused on the creation of free economic zones, in  particular for the fields of pharmaceuticals, high technology and  biotechnology.He also stressed the importance of dialogue between  government and entrepreneurs.

Pashinyan spoke of the need to assist exporters by opening new  markets and eliminating logistical obstacles. According to him,  Armenia has a particularly large potential in the fields of high  technologies and engineering, and this potential should be increased  by introducing an appropriate STEM course in schools and  universities, as well as the creation of TUMO centers and excellence  clusters."I am proud to say that in 2018 the Tumo branch was opened  in Paris, we also intend to open branches in Russia and Germany,"  Pashinyan said.He also noted that 15% of the Armenian economy is  agriculture and special attention should be paid to this area. "The  integration of the largest agro-industrial technologies in the  Republic of Armenia will be a priority for our government. Organic  agriculture and the use of methods such as drip irrigation will lead  to the development of this sector. Wine-making will also take its  significant place in this field. In 2017, the wine-making industry in  Armenia increased approximately by 80%, "said Pashinyan. 

The Prime Minister also noted that another important area is tourism,  in which, according to Pashinyan, Armenia has something to show,  since the culture of the Republic of Armenia is one of the most  important.  "The best way to get acquainted with the culture is  direct contact. This area has great potential. In addition, the  growing tourism sector has the greatest potential to improve the  economic situation in the region.  We plan to increase the number of  tourist places in Armenia, as well as open small hotels in the  regions, develop eco and gastas tourism, to expand the transport and  infrastructure network, which will make it possible to economically  travel around the country, as well as to reduce financial and time  costs during the trip to Armenia and beyond its borders ", noted  Pashinyan.The Prime Minister also noted that the diversification of  energy production is in the center of attention of the international  community. "For Armenia, this is an economic necessity. We see it as  a problem that can be solved in the foreseeable future, since Armenia  has great potential for producing renewable energy. In recent years,  the solar energy sector has undergone significant development, and  Armenia intends to use natural resources to so that solar energy is  also used in the consumed electricity. We are not able to completely  renew the entire infrastructure alone, we need specialists and  resources " rushed Pashinyan."We have the potential, opportunities  and political will to become a regional and global economic player.   The problem is whether you are ready to join us and join us in this  interesting, but not the easiest way. If you are ready to take your  step, come to Armenia to enrich the country and enrich yourself ",  concluded Pashinyan.During the questions - answers, Nikol Pashinyan  touched upon the constant improvement of the investment environment  in Armenia, the strengthening of democracy,combating monopolies;  creating a free and independent judiciary; and optimizing the public  administration system. At the end of the meeting, Nikol Pashinyan  went to Davos, where he would take part in the World Economic Forum. 

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Government Bonds

 

ISIN AMGT13291250
Auction ID AMGB1029A250A
Date 02.02.2019
Issue date 29.10.2019
Issue volume (AMD) 50 000 000 000
Maturity date 29.10.2025
Coupon year yield 11.00%
Auction volume (AMD) 1000 000 000 - 2.000 000 000
Auction date 12.05.2017
DLS
Total amount (AMD) 1 000 000 000
Amount of the total bids (AMD) 787 200 000
Amount of the total accepted bids (AMD) 787 200 000
Cut of yield (%) 10,6447
Weighted avrage yield (%) 10,6447
Auction max  yield (%) 10,6447
Auction min  yield (%) 10,6447
Number of participants 5
ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

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