Products, Companies & Markets


Armenia’s textile production expanded 77% in 2018
/Feb 11/PanARMENIAN.Net/

Textile production in Armenia grew 77% in 2018 year-on-year, the National Statistical Service reveals.

Process manufacturing, meanwhile, expanded 10% throughout the previous year.

According to the new data, food and tobacco production increased by 10.3% and 8.4%, respectively.

32 Armenian companies attend ProdExpo international exhibition
/Feb 11/Public Radio of Armenia/

With the support of Business Armenia, 32 Armenian companies participate in ProdExpo, an international exhibition of food and beverage in Moscow, Russia, February 11-15.

Last year, 21 Armenian companies returned from the same expedition with export contracts amounting to AMD 5.7 billion drams.

The Armenian manufacturers will introduce large international buyers and distributors to a wide range of products: semi-manufactured goods, fruit, vegetable, fish and meat preserves, jams, fruit vodka, brandy, liqueur, gin, wine, dairy products, cheese, dried fruits, chocolate, beer, coffee, tea, pasta, melted butter, etc.

“Taking into account the results of the exhibition and the interest of the manufacturers in the exhibition, Business Armenia has increased the number of companies participating in the international exhibition this year,” said Markus Azadian, Export Team Leader at Business Armenia.

He said 32 manufacturers will represent their production, instead of 21 last year.

President Sarkissian and Nestlé Waters CEO discussed opportunities for cooperation
/Feb 11/ARKA/.

YEREVAN, In the framework of his working visit, Armenian President Sarkissian met last week in Paris with the Executive Director of the Nestlé Waters company Maurizio Patarnello, his press office reported.
Noting that Armenia is rich with natural resources and drinking water, the interlocutors spoke about possible cooperation in this area.
They concurred that there are serious perspectives for cooperation and agreed that the Executive Director of the Nestlé Waters Company would visit Armenia shortly to continue the dialogue and to bring the discussions to a more practical level. At the meeting, discussed were also issues of the efficient management of the water resources.
Nestlé Waters is part Nestlé Group company, which is one of the world’s leading companies in the production of bottled water. Nestlé Waters also carries out research and educational programs to show water’s importance in the human life and healthcare.

Armenia’s brandy production up 2.5 percent in 2018
/Feb 13/ARKA/

YEREVAN – Armenia’s brandy production in 2018 increased by 2.5% to about 30.7 million liters, according to the numbers, released by the National Statistical Committee (NSC).
It said production of wine increased by 0.3% to around 8.9 million liters; production of vodka decreased by 32.8% to about 4.8 million liters; production of whiskey dropped by 23.3% to 806,000 liters and that of champagne fell by 12.8% to 753,400 liters.
Also beer production grew by 15.3% to 23.6 million liters and production of non-alcoholic beverages upped by 11.4% to about 109 million liters.

Armenia sees strong growth in diamond, jewelry production
/Feb 15/Panorama/

Diamond and jewelry production grew strongly in Armenia in 2018, the latest official statistics show.

The country produced a total of 229,396 carats of diamonds last year, up by 12.4% from the previous year, when the output stood at 204,102 carats, learned from the Statistical Committee.

The raw materials for diamond processing in Armenia are imported mainly from Russia, Belgium and Israel.

According to the figures, 2,290 kg of jewelry were manufactured in Armenia in 2018, securing a 18.7% growth from 2017 when some 1,929 kg were produced.   

From body armor to sniper rifles and UAVs, Armenia presents defense technologies at IDEX 2019 in Abu Dhabi
/Feb 16/

YEREVAN – The Armenian military is participating at the IDEX 2019 International Defense Exhibition and Conference in Abu Dhabi, UAE.

The Armenian Defense Ministry is presenting its military production at the event.

According to the IDEX 2019 exhibitor list, the Armenian military will present the following 10 products at the exhibition:

Electro-optic countermeasure system 3K01

Pancratic sniper sight 3*9

Sniper Rifle K-8

Thermal imaging gunner sight for T72A tank

Inductive mine detector RIA-1

Bulletproof vest GS-47/0717

Various types of reconnaissance UAVs, all in final stages of development, with proven technologies

Military and tactical boots

MJ-25 sectoral search semi-stationary VHF radar (Model 1:10)

Microwave transistor amplifier for target detection HFAS-75G

Defense Minister of Armenia Davit Tonoyan has departed for Abu Dhabi to participate at the exhibition and conference.

Earlier in January, Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates (UAE), and Ruler of the Emirate of Dubai, invited Tonoyan to participate at IDEX 2019.

Armenian companies to export leather items to EU, Asia and Russia
/Feb 18/Panorama/

With the support of Business Armenia, the factory of Elmasta, a handbag producing company in Russia, and Armenian companies will cooperate in producing leather bags in the country.

Outsourced models of Armenian companies, produced with “Made in Armenia” modeling, will be exported to the European Union, Asian countries, and Russia. The first batch to Russia is planned to be exported in late February, Business Armenia said in a press release. 

“At this stage, we introduce a foreign businessman to Armenia/EAEU raw material import, commodity export regimes, EU GSP+, REX and other privileged procedures. In addition, we have organized B2B meetings with local manufacturers, after which export agreements have been reached,” said Anahit Mkrtchyan, Exporters Support Manager at Business Armenia.

The specialists of Elmasta are invited to visit the Armenian pavilion of “MosShoes” 2019 international exhibition slated for March in Moscow. With the support of Business Armenia, it will be possible to get acquainted with the products of more companies and to make new arrangements.

The owner of Elmasta leather accessories factory, Vladimir Ulianov, and vice-president of Alliance Russian-Georgian-Armenian Business Relations Foundation, Inga Drinevskaya, with the support of Business Armenia’s specialists, had meetings with experts from companies representing Armenian Artis, Amore and Safian brands, which produce leather goods and bags, got acquainted with production potential and product quality. A decision to establish a company in Armenia and engage in export of Armenian goods was made.

German businessmen introduce their business plans in Armenia to minister Khachatryan
/Feb 19/

YEREVAN – Minister of economic development and investments Tigran Khachatryan received the delegation of German businessmen accompanied by Ambassador Extraordinary and Plenipotentiary of Germany to Armenia Bernhard Matthias Kiesler, the ministry told Armenpress.

Minister Khachatryan welcomed the businessmen’s visit to Armenia and stated: “We are ready to assist any business activity initiated by foreign investors”. The minister added that one of the goals of the Armenian government is to increase the investment volumes ad export the products made by investments to the EAEU, EU and other markets. He introduced the economic priorities of the government’s Action Plan that will be interesting for investors. Tigran Khachatryan also touched upon Armenia’s investment attractions.

The German Ambassador congratulated the minister on appointment and expressed satisfaction that the Action Plan contains many economic highlights.

The guests introduced their activity circles, starting from agriculture up to engineering, asked their questions to the minister, as well as touched upon their business plans in Armenia.

Minister Khachatryan drew the attention of the guests on the fields which have a great potential that is not utilized. At the end of the meeting the minister said the ministry and Business Armenia staff will spare no efforts for the business mission to be extremely effective and targeted by organizing respective meetings with the Armenian partners.

Investors’ sluggish activity hobbles some investment programs in Armenia – paper
/Feb 20/ARKA/

YEREVAN – Although parliamentary elections in Armenia have already passed, no rally is seen in both domestic and foreign investments, Zhamanak reports.  
More than that – the programs launched earlier are suspended for uncertain time.
The media source explains this by investors’ non-confidence and the authorities’ indifference to them.  
According to the newspaper, it was possible before to settle some matters by giving bribes to officials, ‘while now bribes are not taken and things are not done’. 
In autumn 2018, Armenian Prime Minister Nikol Pashinyan said that the flow of investments in Armenia is hobbled by political instability and the necessity of snap parliamentary elections. 
The elections were conducted on December 9 and three political forces got in the National Assembly – My Step bloc won 70.42% of votes, Prosperous Armenia party scored 6.37% and Bright Armenia 8.26%.

EBRD awards 6 sustainable energy programs in Armenia
/Feb 20/

ShareYEREVAN – The European Bank for Reconstruction and Development (EBRD), within its Energocredit program, has awarded Armenian companies for best investments in energy saving and renewable energy sector.

The EBRD’s Energocredit program was funded by the EU and the Austrian government.

As part of the program, funds have been provided to Armenian financial institutions, which in turn gave loans to private and apartment construction sectors to implement investments aimed at energy efficiency in the country.

The EBRD also initiated a new funding solution – the Green Economy Financing Facility (GEFF).

Six winners were awarded in the Best Impact category.

A number of financial institutions were also awarded in the Agent for Change category.

Winners include – Ameriabank (green investments in greenhouse business), ACBA Leasing (renewable energy investments, Inecobank (green investments in textile sector), ACBA CREDIT AGRICOLE Bank (green investments in housing sector, HSBC Armenia bank (green investments in packaged goods sector), ArmSwissBank (green investments in food sector), SEF International Crediting organization (support for green investments through micro-financing).