“I am pleased with my cooperation with ACBA, as it helps me develop by business. I am not saying it just for effect,” Mikaelyan says.
April 25, 2014
Levik Mikaelyan, the head of Namels LLC, runs a shop selling spare parts for soviet and Russian-made vehicles in Artashat, the center of Armenia’s Ararat province. “I was always interested in spares,” says Mikaelyan, who used to live in Tolyatti, a city in Samara region of Russia, which is famous for its motor-car plant.
In 2012, they realized the need to shift into a higher gear, which meant investing in larger warehousing facilities.
April 25, 2014
Narine Dadivanyan and her husband Khachik Chartaryan have been engaged in food industry for 13 years, selling fruit and vegetables in their shop situated in Nor Nork district of Yerevan, the capital of Armenia.
This is even more significant as the EFSE gives PLIs full flexibility in using MSE credit line funds across economic sectors.
June 18, 2013
Since the interception of the European Fund for Southeast Europe (EFSE), there has been a firm belief that leveraging strong partnership will maximize impact as regards the Fund’s final target group of micro and small enterprises (MSEs) and low-income households.
Brief overview of main economic events of 2012 in Armenia
December 28, 2012
In 2012, Armenia faced several significant economic events which may have further positive influence on the development of this sphere and the country in general. PanARMENIAN.Net provides a brief overview of the developments of this year.
How the idea of establishing Free Economic Zone in Armenia emerged
October 25, 2012
Currently there are approximately 1200 free economic zones (FEZ) operating worldwide, the most successful ones being the Special economic zones in China, about ten in number. These are quite efficient since the Chinese market is huge, and the labour force is cheap there; this attracts big brands to these zones.
CBA issued a response to Reuters article, which claimed Iran expands presence in Armenian banking system.
August 25, 2012
Central Bank of Armenia (CBA) Financial Monitoring Center has actively cooperated with such international institutions as Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) and Egmont Group of Financial Intelligence Units.
Armenia has managed to reduce poverty, slash inflation, stabilize its currency, and privatize many business enterprises.
May 25, 2012
Financial markets are keenly focused on the continuing travails in Europe, but peripheral countries near to the Eurozone cannot wait for their lead. Armenia, for one, has suffered through a debilitating recession, but, through the efforts of its domestic institutions and businesses, it has carved out a respectable recovery track record, sporting GDP growth in excess of 4% a year after the fall in 2009.
International agencies hailed Armenian government’s efforts to coordinate monetary-credit and tax and budgetary policy.
May 20, 2012
International institutions, in particular, the International Monetary Fund (IMF) are optimistic about economic growth worldwide, given the efforts of European states to tackle the debt crisis and increased rates of economic growth in U.S. Commenting on report on “Perspectives of global economy development”, IMF Economic Counsellor and Director of Research Department Olivier Blanchard said that the international economy has faced ups and downs over the past six months and now sees comparative stability.
International organizations also state that agriculture has a key role in development of a country’s economy.
March 31, 2012
Even developed countries have to tackle food security problems today, therefore these issues have appeared in EU spotlight in the past three years. Same is the situation in CIS states. Though development of the Convention on Food Security was a step forward for Armenia, the level of food security still lags behind the international average. So the government needs to put a stronger focus on these issues.
The newly-adopted budget doesn’t look reassuring, nor does it prove Armenia’s past the crisis and instability, according to Stepan Safaryan.
December 10, 2011
On December 8, Armenian National Assembly adopted 2012 state budget with 66 votes in favor and 2 against. Heritage and ARF Dashnaktutyun parliamentary groups did not vote.