Monday, August 19 2019 13:36
Alina Hovhannisyan

Deputy Minister of Economy named the strengths of Kotayk region

Deputy Minister of Economy named the strengths of Kotayk region

ArmInfo. During the regular investment forum, which this time was held in Tsaghkadzor, Kotayk region, panel discussions took place, dedicated to the production and economic opportunities of the region and the prospects for attracting  investments.  One of the participants in the discussions was the  Deputy Minister of Economy of the Republic of Armenia Avag Avanesyan,  who first of all emphasized that the Kotayk region has a fairly  developed economic structure.

He noted that in 2018, the processing industry of Kotayk region  showed an increase of 16.7%, which was largely ensured not by  traditional sectors, in particular food and beverage production, but  by sectors that have more complex production and higher cost. In this  vein, Avanesyan called the production of electrical equipment, other  engineering, the diamond industry, etc. ''These are very important  areas. In turn, we will try to provide assistance so that these areas  realize their economic potential'', he added.  Speaking about the  advantages in terms of investment attractiveness of the Kotayk  region, the deputy minister noted that this region is primarily  interesting in terms of personnel potential, using which you can  create added value and conquer not only domestic but also foreign  markets. "The role of the government is to ensure equal conditions  for competition, and entrepreneurs, in turn, need to build open  relations with the state," Avanesyan said, emphasizing that this will  ensure that resources are targeted to the competitive sectors.  ''Relations with the government should be used not to make the sector  competitive, but to realize the potential and competitive advantages  of the field. Without this it is difficult to imagine further  development'', he explained.

In addition, the deputy minister noted that the government intends to  assist in the export of knowledge- intensive and complex economic  structure products, helping to increase its competitiveness. In this  regard, he emphasized that proper assistance primarily envisages the  provision of opportunities for creating added value.

With all the benefits, according to Avanesyan, the region has a  number of problems of a different nature in each of the areas of  economic activity, from logistics to taxes. ''What we plan to do in  this regard - first of all, we will try to communicate with the  private sector, representing all sectors, in order to identify  obstacles that do not allow us to realize the potential for economic  development. We will solve issues, in particular through investment,  improvement of infrastructures, including scientific ones,  development of business relations in the fields, etc.'', he  concluded.

According to the governor of Kotayk region, Romanos Petrosyan, the  share of Kotayk region accounts for 7% of the total GDP of Armenia.  The most developed areas of economic activity are industry, including  food, diamond, metallurgy. The priority areas for the development of  the region are the diamond industry, renewable energy, intensive and  technological agriculture and tourism.  It should be noted that the  Kotayk region is located in the central part of Armenia, with the  administrative center in the city of Hrazdan. As of January 1, 2019,  the population of the region totals 250,500 people.

According to official figures, in 2018 in the Kotayk region  industrial enterprises produced products worth 193.9 billion drams,  which is 21.5% more than the indicator of the previous year.  In  particular, 35.2% of industrial production is exported to foreign  markets, the lion's share of which falls on the CIS countries. It is  worth noting that during the reporting period, exports from the  Kotayk region increased by 55.9%. According to the source, the gross  agricultural output of Kotayk region in 2018 showed a slight decline,  amounting to 73 billion drams (instead of 73.2 billion drams). Retail  trade turnover in Kotayk region increased by 4.7%, reaching 62.8  billion drams. The service sector showed an increase of 13.5% to  119.4 billion drams during the reporting period. In 2018, the volume  of capital investments in the region increased by 16.4% to 24.2  billion drams. 

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

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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