Economy Minister says Armenian diamond industry revivingNovember 16, 2011 - 13:02 AMT PanARMENIAN.Net - Armenia possesses significant potential for the development of diamond processing industry, RA Minister of Economy stated. As Tigran Davtyan said during his November 16 visit to diamond processing companies in Kotayk region, diamond export reached USD 300 mln in 2000 to total about 40% of Armenia’s export volume. He noted that the sector successfully copes with crisis to reach pre-crisis volume by yearend and even to increase export figures. Minister Davtyan also briefed on the steps taken by the government during the current year towards creating favorable environment for raw materials supply. During their recent visit to Armenia, members of Russian Alrosa Company delegation familiarized themselves with possibilities of Armenian enterprises to increase supply of raw materials and expand the list of companies. According to Economy Minister, the volume of raw material supply reached USD 40 mln and is expected to rise to USD 50mln in 2012. Currently Armenia is negotiating with other leading companies regarding diversification of raw materials supply “to help our companies more effectively organize their production,” he said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |