Products, Companies & Markets

 

End to Sanctions on Rusal a Boon to Armenian Aluminium Supplier
/Jan 22/Aluminium Insider/

Easing of sanctions upon Russian Federation aluminium giant U.C. Rusal will be a boon to an aluminium mill that provides financial security to thousands of Armenian families, explained a spokesperson for the Armenian National Committee of America (ANCA) after last week’s vote in the United States Senate against prolonging such sanctions.

In a press release issued late last week, ANCA Executive Director Aram Suren Hamparian said that the vote would go far in bolstering the fortunes of Armenal in the Arabkir district of Armenia’s capital Yerevan.

“While we did not take a position on the broader policy debate over the lifting of specific sanctions, we do welcome the net effect of today’s vote, which is to ease pressure on a successful, export-driven Armenian enterprise that employs over 700, supports many times that number of Armenian families, and exports products to U.S. markets. The ANCA remains committed to working constructively with legislators from both parties to address undue, improper, or unintended consequences of U.S. regional sanctions on Armenia and the U.S.-Armenia trade relationship.”

Armenal, which employs 700 individuals and, if counting suppliers and support services, generates jobs for many thousands in the area. The plant produces about 34 thousand metric tons of aluminium foil per annum for use in packaging food, beverage, and cigarette containers. The lion’s share of its clients are in the United States and Europe, and the plant boasts a book of business including Trinidad Benham Corp, Handi-Foil of America, and Durable Packaging International, among others.

In September the plant began to draw down production due to the United States government’s sanctions on Rusal. Unnamed sources at the plant said the sanctions caused a drop-off in demand from its usual customers, frightened off by the prospect of follow-up sanctions that could have led to similar punishments for buyers from Rusal.

Last week’s Senate action killed a bill that would extend sanctions upon Rusal after the Treasury Department lifts the penalties, which it has announced it will do shortly.


EBay invited to participate in World Tech Forum in Armenia
/Jan 22/PanArmenian/

Armenian Prime Minister Nikol Pashinyan has invited eBay to participate in the World Forum of HighTech Technologies set to be held in Yerevan in October 2019.

Pashinyan on Tuesday, January 22 met the company's Vice President Cathy Foster on the sidelines of the World Economic Forum in Davos.

Appreciating eBay’s activity, the Armenian PM said they go in tune with the global technological transformations.

The head of the Armenian government said that eBay’s activities in the field of Internet commerce, electronic payments and telecommunications are in great demand in the country and highlighted the expansion of such services in Armenia.

Pashinyan then added that Armenia will be hosting the World Forum of High-Tech Technologies in October 2019, and invited eBay to participate in the event, stressing that the IT sphere is developing at a faster pace in Armenia.

Foster, in turn, expressed readiness to visit Armenia in order to discuss prospects for eBay’s operations and investment opportunities in the country.
 

Make Your Move, Select Armenia: The country's export potential and investment opportunities
/Jan 23/Public Radio of Armenia/

Business Armenia has published a video presenting the country’s export potential and investment opportunities.

The video also emphasizes the preferential trade regimes, government support programs, some of the economic indicators, and global ratings.

Regarding the business aspect of the country, the video states that due to the flexible minds of Armenians, the Global Innovation Index ranked Armenia 15th for innovation efficiency, and the World Bank ranked Armenia 8th for starting a business.

The list of investment attractiveness includes climatic conditions. Armenia is “a country, where in the high mountain zones the winds never cease and where 307 days of the year are sunny. A country, where organic agricultural lands satisfy their thirst with approximately 200 rivers and streams; with a florism rich with over 2,500 species of medicinal plants, many of which are used in pharmaceuticals, and more than 50% of the medicine is exported.”

The video also says that “The silk road passed through this country, the oldest leather shoe was found here, and one of the oldest cities in the world is here.”

“As a result of several months of research and marketing we have received an attractive and compelling package representing Armenia and its 6 sectors of Economy. It is already playing its role, receives warm reactions from Investors and Businessmen, and attracts interest towards Armenia,” noted the Acting CEO of Business Armenia Foundation, Armen Avak Avakian, summarizing Select Armenia marketing campaign.

The video was made within the frames of Select Armenia marketing campaign and carries “Make Your Move, Select Armenia” slogan.

Earlier, Business Armenia has published the marketing packages and videos of IT, Pharmaceuticals, Energy, Agriculture, Jewelry, and Textile sectors.


Chinese company plans to open elevator assembly workshop in Armenia
/Jan 24/ARKA/

YEREVAN – During a meeting today with a group of Chinese investors Armenian Minister of Economic Development and Investments Tigran Khachatryan said investors in Armenia have full assistance of the ministry in those processes where they will need support. He also presented state support tools for international programs and ways of their application.
The President of Xinjiang Zheng Yi Agriculture Science and Technology CO LLC, Li Xienmin, presented a program for the creation of a workshop for the assembly of elevators in Armenian Kotayk region. It would produce more than 2,000 elevators per year, with most of the production process to be organized in Armenia.
Director of the Higer Bus Company Limited for the CIS countries, Jan Qifan, presented a program to improve the public transport network.


Samvel Karapetyan in Forbes' "Kings of Russian Real Estate" list
/Jan 25/PanArmenian/

President and founder of Tashir Group of Companies, businessman of Armenian descent Samvel Karapetyan was included in the list of the "Kings of Russian Real Estate – 2019” compiled by the Russian edition of Forbes.

In 2018 alone, Karapetyan reportedly earned $670 million in real estate.

Tashir opened its first Family Room, a facility selling furniture in 2018 and by 2023 is planning to complete Park Victory project with three 35-storey towers whose roofs will be joined with a terrace – similar to the Marina Bay Sands skyscrapers in Singapore.

In August 2018, Karapetyan was included in the rating of the 100 most influential Russians, compiled for the first time by the Russian edition of Forbes. The list is headed by Russian President Vladimir Putin who was placed the 1st automatically, as he was ranked the second in the rating of the most influential people in the world, according to the American Forbes.


Khacharur Sukiasyan intends to start importing oil products into Armenia
/Jan 25/ARKA/

YEREVAN, January 25. /ARKA/. A new player will appear soon at Armenia’s market of import of oil products, Zhamanak reported on Friday.  

According to the media source, Khacharur Sukiasyan, owner of SIL Group, is building a depot for oil products in Armenia. 
The entrepreneur is planning to enter the oil products market upon completion of the construction as an entity engaging in wholesale and retail trade. 
There is also an assumption in the report that the recent decrease in petrol and diesel prices was probably due to this very factor. 
“In particular, fuel market players want to show to Sukiasyan that profits in this area are not so large and that investments will not produce desirable results,” Zhamanak analysts say.


Minister reveals some details of his conversation with potential investors in Nairit plant
/Jan 31/ARKA/

YEREVAN – Armenia’s Minister of Economic Development and Investment Tigran Khachatryan told journalists today that his meeting with potential investors in Nairit chemical plant was to specify their specific technological and organizational capabilities.
“We had an interesting conversation with potential investors, who have their own vision of how to revive the plant, but the process is still at an early stage. To say that there is an investment proposal is an exaggeration,” he said.
The minister said that the government is ready to discuss all initiatives aimed at boosting economic development, adding that the issue of  Nairit is extremely sensitive.
He said the government can discuss the issue of restarting the plant if there is a substantive, clearly calculated and evaluated project. We are not at that  stage yet, ”said Khachatryan.
Nairit has been standing idle since March 2010. The Armenian government has repeatedly said that the plant will be re-launched as soon as an investor appears.  The re-launch is estimated to cost $200 to $300 million.  Armenia’s energy ministry says the plant re-launch would be reasonable only with a prospect of annual output of at least 10,000 tons of synthetic rubber.
 

Belarus suggests launching joint production of lifts in Armenia
/Jan 31/ArmenPress.am/

YEREVAN – Belarus is ready to take part in the renewal of Armenia's passenger transport fleet and suggests launching joint production of lifts in Armenia. The issue has been discussed during the meeting between Chairman of the House of Representatives Vladimir Andreichenko and Armenia's Ambassador to Belarus Armen Ghevondyan, BelTA news agency reports.

At the meeting Vladimir Andreichenko said the trade turnover between Armenia and Belarus is gradually increasing. He expressed confidence that the sides need to go to a higher level of cooperation and set up joint ventures.

“Belarus is ready to participate in the renewal of the passenger transport fleet of Armenia and also in its lift renewal program”, Vladimir Andreichenko said.

He informed that the delegation of the Mogilevliftmash plant plans to visit Armenia in the near future. According to Andreichenko, Belarus hopes to come to a decision on setting up a joint manufacturing plant in Armenia.

He also noted that Belarus is interested in deepening and developing the cooperation with Armenia.

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