Monday, January 29 2024 17:22
Naira Badalian

Baku will be against construction even in Yerevan: President of Union  of Miners and Metallurgists of Armenia

Baku will be against construction even in Yerevan: President of Union  of Miners and Metallurgists of Armenia

ArmInfo. The most important sectors of the Armenian economy, which are of strategic importance  for the republic and capable of providing it with long-term and stable economic growth, are targeted by Baku.

Vardan Janyan, First Deputy General Director of Zangezur Copper-Molybdenum Combine CJSC  (ZCMC), President of the Union of Miners and Metallurgists of Armenia  stated on January 29 b during a discussion on the topic "Trends in  the economic development of the Republic of Armenia in the context of  the economic distribution of large taxpayers" at the Club of Economic  Journalists.

Janyan draws attention to the fact that Azerbaijan does not "target"  Armenian importing companies.  Meanwhile, the mining and energy  industries are at the epicenter of Baku's anxiety. This is due to the  fact that importing companies do not ensure long-term sustainable  development.  The expert recalls that back in 2022, Azerbaijan began  a campaign against the mining industry of Artsakh, with the  far-fetched problem of the Kashen mine, and then, when it seemed to  them that the issue with Artsakh was already closed, they switched to  Armenian enterprises, for example, to Lydian Armenia, which is  preparing to restart, and even to the Armenian nuclear power plant.

"In the future, even during the construction of some enterprise in  Yerevan, they may declare that it "pollutes the rivers flowing into  the Araks, and this affects Azerbaijan," Janyan said.

The expert notes an "interesting trend". Thus, until the end of 2021,  Azerbaijan was not so active in this issue. In his opinion, this is  due to the fact that much greater economic growth is registered in  Armenia than in Azerbaijan. "If before 2017-18 there were no concerns  about Armenia's ability to economically compete with Azerbaijan, now  this danger is real, because we surpass them in economic growth  rates, even in GDP per capita. Naturally, they understand that this  will also lead to the formation of a new military balance.   Therefore, they are now waging a hybrid war against Armenia,"  concluded the President of Union of Miners and Metallurgists of  Armenia.

In the summer of 2023, Minister of Economy Vahan Kerobyan  announced   the construction of a metallurgical plant in Yeraskh for  the   processing and production of ferrous metals, angles, and pipes.  He   noted that the investment amounted to $70 million, and the plant,    which is being built in Yeraskh by GTB Steel LLC, will be built on an    area of 16,500 square meters, the y-o-y production volume will be    about 180 thousand tons.  Baku actively opposed the development of  the plant. Enemy forces   consistently hold the enterprise under  intense fire. The so-called  were also brought into play,  in particular, in July, the   Azerbaijani government officially  appealed to Armenia with a demand   to stop the construction of a  large metallurgical plant in Yeraskh,   Ararat region of the Republic  of Armenia. A letter from the Minister   of Ecology and Natural  Resources of Azerbaijan to the Minister of   Environment of Armenia  stated that the operation of metallurgical plants is recognized as an  activity "that may cause a significant   negative transboundary  impact." On December 14, 2023, the Cabinet of Ministers decided to  move the  plant to the village of Ararat, Ararat region. The GTB  Steel company, which was forced to move the metallurgical plant  project from Yeraskh to the city of Ararat, received a loan of 3.5  billion drams from the RA government. 

POST A COMMENT
Input digits     


News
Russian Deputy Premier: There are no problems in trade between Russia  and ArmeniaRussian Deputy Premier: There are no problems in trade between Russia  and Armenia
Converse Bank began issuing China UnionPay cards - UnionPay Gold and  UnionPay PlatinumConverse Bank began issuing China UnionPay cards - UnionPay Gold and  UnionPay Platinum
Rostelecom Armenia announced the beginning of rebranding and will henceforth operate under the new brand OVIORostelecom Armenia announced the beginning of rebranding and will henceforth operate under the new brand OVIO
Price index for industrial products in Armenia, began to rise amid  high growth in industrial productionPrice index for industrial products in Armenia, began to rise amid  high growth in industrial production
Team Telecom Armenia announces resumption of communication in  Alaverdi Team Telecom Armenia announces resumption of communication in  Alaverdi 
Armenia`s banking system starts active lending to economy and  populationArmenia`s banking system starts active lending to economy and  population
Civil society to supervise procurement contract execution Civil society to supervise procurement contract execution 
Government property management effective last year - minister  Government property management effective last year - minister  
Armenia bans export of scrap metal, metal goods Armenia bans export of scrap metal, metal goods 
AraratBank completes placement of bonds ahead of scheduleAraratBank completes placement of bonds ahead of schedule
Armenia`s NA discusses turnover tax rate rise Armenia`s NA discusses turnover tax rate rise 
Tree Planting Results with My Forest Armenia: The Power of One DramTree Planting Results with My Forest Armenia: The Power of One Dram
World Bank expresses readiness to help Yerevan develop solid waste  management policyWorld Bank expresses readiness to help Yerevan develop solid waste  management policy
Your home is in Armenia – Ameriabank offers mortgage loans for the DiasporaYour home is in Armenia – Ameriabank offers mortgage loans for the Diaspora
Armenia`s electric energy exports down last year; possible evidence  of decline in real economy - expert Armenia`s electric energy exports down last year; possible evidence  of decline in real economy - expert 
Ameriabank`s Trade Finance portfolio enriched with four prestigious awards from EBRD and IFCAmeriabank`s Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC
On Oct 4- 7, Yerevan to host WCIT for second time On Oct 4- 7, Yerevan to host WCIT for second time 
Mirzoyan began his speech at International Conference on Nuclear  Security by expressing condolences to IranMirzoyan began his speech at International Conference on Nuclear  Security by expressing condolences to Iran
R&D is most important element of EAEU countries integration and  R&D is most important element of EAEU countries integration and  "entrance ticket" to competitive world - Russian economist
Armenia, EFSD sign agreement for USD 100 million financial credit Armenia, EFSD sign agreement for USD 100 million financial credit 
Armenia-UAE economic and technical cooperation commission to meet in  Abu Dhabi Armenia-UAE economic and technical cooperation commission to meet in  Abu Dhabi 
Team Solutions presents its ZangeZOR product at 4Future Banking int`l  forumTeam Solutions presents its ZangeZOR product at 4Future Banking int`l  forum
Armenia`s government plans to implement housing programme for  forcibly displaced people in next 10-12 yearsArmenia`s government plans to implement housing programme for  forcibly displaced people in next 10-12 years
Communications Museum re-opened in YerevanCommunications Museum re-opened in Yerevan
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy MinisterDouble increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister
Rocket Line - now for 60 months: Idram and IDBankRocket Line - now for 60 months: Idram and IDBank
Rising prices for services, going into shadows and closing businesses  - incomplete list of Rising prices for services, going into shadows and closing businesses  - incomplete list of "expectations" from revision of turnover tax  rate from SME Cooperation Association President
Liability for misrepresented information is proposed in ArmeniaLiability for misrepresented information is proposed in Armenia
Government proposes to make changes to car trade system within  Government proposes to make changes to car trade system within  "Trade-in" program
Armswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transitionArmswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transition
Armenian lawyers unwilling to pay taxes on universal basisArmenian lawyers unwilling to pay taxes on universal basis
EU Commissioner: EU will continue to contribute to economic  development of ArmeniaEU Commissioner: EU will continue to contribute to economic  development of Armenia
PM discusses opportunities for diversifying Armenian economy with WB,  IFC management PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
EBRD President considers programs implemented by Bank useful for  development of private sector in ArmeniaEBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
EBRD lends up to US$ 10 million to Armeconombank for MSME on-lendingEBRD lends up to US$ 10 million to Armeconombank for MSME on-lending
Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economistArmenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
Idram Junior and Koreez signed a memorandum of cooperationIdram Junior and Koreez signed a memorandum of cooperation
During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.
Government to allocate additional AMD 3 billion to finance state  order for healthcareGovernment to allocate additional AMD 3 billion to finance state  order for healthcare
EBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEsEBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEs
Pankin: Armenia`s suspension of CSTO funding isn`t tragedyPankin: Armenia`s suspension of CSTO funding isn`t tragedy
Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
EBRD Governors re-elect President Odile Renaud-Basso for second termEBRD Governors re-elect President Odile Renaud-Basso for second term
EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
No specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFANo specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFA
Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in ArmeniaPashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factorsOdile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
EBRD promises unprecedented investments in Armenian economyEBRD promises unprecedented investments in Armenian economy
FMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollarsFMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollars
Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
French Development Agency, Armenian government to expand cooperation  areas and programs` scope French Development Agency, Armenian government to expand cooperation  areas and programs` scope 
The Power of One Dram Sums up the Two-Year Program with Teach for ArmeniaThe Power of One Dram Sums up the Two-Year Program with Teach for Armenia
Noubar Afeyan willing to use his potential to strengthen Armenia Noubar Afeyan willing to use his potential to strengthen Armenia 
Ministry of Economy of Armenia denies that growth in agricultural  exports is due to re-exportsMinistry of Economy of Armenia denies that growth in agricultural  exports is due to re-exports
Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%
EBRD funds customs and logistics centre in SyunikEBRD funds customs and logistics centre in Syunik
Grigori Zakaryan: “Capital markets have a crucial for economic development.”Grigori Zakaryan: “Capital markets have a crucial for economic development.”
Read more


Exchange rates
27.05.2024
RUB4.380.05
USD388.030.26
EUR421.561.18
GBP494.931.65
CAD284.211.50
JPY24.740.04
CNY53.570.04
CHF424.680.75