Just as I shared my concerns in this article some 1.5 years ago, Armenia hit a concrete wall of ineffectiveness, corruption, low accountability and low transparency, inefficiency and bureaucracy while managing its public procurement. In other words, dead end. Continue reading
Posted in Armenia, Economy, Politics
Tagged Armenia, Corruption, Economy, Government, Kickbacks, Procurement
Armenia — Presidents of Iran and Armenia meet in Yerevan, 27Mar2011 | Official photo from http://www.president.am
Reuters news agency has published a report, claiming that Iran is seeking to expand its banking foothold in Armenia and thus trying to skirt bank sanctions the Islamic Republic is facing because of its nuclear program. Continue reading
The Cover Page of PFA's "Armenia: Averting an Economic Catastrophe" Report
Policy Forum Armenia, a Washington based Armenian think tank and advocacy group, has published an in-depth report, which might well be the best diagnosis of Armenia’s economic woes available out there. Continue reading
Armenia has significantly improved its position in the latest Doing Business report published annually by the International Finance Corporation and the World Bank.
Armenia has moved up 6 points reaching the 55th slot among 183 countries covered by the report.
The Doing Business project provides objective measures of business regulations for local firms in 183 economies and selected cities at the subnational level and is considered an important indicator for driving foreign investments to a country. Continue reading
Yerevan’s mayor Karen Karapetyan has ordered removal of small kiosks from Armenian capital’s central streets, despite the fact, that many of the kiosks are run by small businessmen, who are fully legally licensed to operate, have corresponding permissions for the space they occupy and often are struggling to repay newly acquired loans. Continue reading
Tagged Armenia, Armenian, business, Economy, Government, Investment, Karen Karapetyan, small business, Yerevan
Armenian Prime Minister Tigran Sargsyan has dismissed criticism voiced by successful Armenian-American businessman, real estate developer and philanthropist Vahak Hovnanian about obstacles to business investments in Armenia.
The Forbes has ranked 177 countries according to three-year average statistics for gross domestic product growth and inflation (including the IMF’s 2012 estimates), plus GDP per capita and the current account balance, a measure of whether the country is importing more than it exports. Continue reading
Tagged Armenia, Economy, Forbes, International Monetary Fund, Kyrgyzstan, Soviet, Turkey, Ukraine
The World Economic forum has published “The Travel & Tourism Competitiveness Report 2011.” Continue reading
Posted in Armenia, Economy, Environment
Tagged Armenia, Azerbaijan, Economy, Georgia, Tourism, Turkey
More than 47% of all direct investment into the Armenian economy has flown into the telecommunications sector, amounting to $ 109 million US in the first half of this year, according to the latest data released by the State Statistical Service. Continue reading
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Tagged Armenia, Economy, France Telecom, Investment, IT, Russia, Telecommunication
Story by Notes from Hairenik, Photo & Niva property of Ditord
This morning I finally took care of the vehicle inspection for my Niva, which is referred to as “tekh osmotr,” a Russian term. I found out from a fellow employee last Friday that the law has changed for this year regarding when the inspection sticker expires. If you do not get a new inspection sticker within twelve months of the expiration date you can potentially be fined 50,000 dram by the traffic police.
