Acting economy minister briefs president on proposed reforms

16:47 • 19.05.17



Official press release by the office of President of Armenia (source: President.am)


Today, at the working meeting with the President of Armenia, the Acting Minister of Economic Development and Investments Suren Karayan reported on the results in the area of export development and attraction of investments as well as about future works. 

Suren Karayan noted that the Ministry is working to preserve the positive dynamics of economic indicators for the first months of year 2017 and to provide for the future sustainable development. According to the Acting Minister, the Ministry has set a goal to bring in the coming five years the share of exports in the GDP structure up to 45%. Acting Minister Karayan informed that towards that end studied were industrial areas which possess export potential and development programs of the enterprises. The later received the necessary assistance from the state to be able to utilize that potential. There also has been created a list of import substituting goods; if sufficient support is provided, they can compete with the imported goods. 

Acting Minister Karayan reported to the President on the works aimed at entering new markets and strengthening and expanding the positions on the already existing markets. He spoke, in particular, about the promotion of the Armenian goods at the Eurasian Economic Union market, their introduction at major trade chains, steps towards the creation of the EEA common market and establishment of joint production chains. At the meeting, the parties discussed also the measures and prospects for the utilization of Armenia’s export potential in the framework of the European Union’s GSP+ preferencial trade system. According to Suren Karayan, works are underway for a wider use of the export toolbox and in case of necessity for the enhancement of its efficiency. 

Acting Minister Karayan informed the President that the program on the improvement of business climate in Armenia for year 2017 has already been drafted. It is expected that after the implementation of the envisaged measures, other things being equal, Armenia’s rating at the World Bank’s Doing Business report will rise from 38 to 26, registering a 12-point improvement. According to Mr. Karayan, the aim is to position Armenia in the next 4-5 years among the top 20 countries of that rating.

The Acting Minister of Economic Development and Investments reported to the President of Armenia also on the process of drafting a new RA law On Foreign Investments which will provide new guarantees for the protection of investments. 

Suren Karayan spoke also about the programs related to the investment attractiveness and potential presentation of potential investments and particularly of the platform for investment programs which at the moment presents 55 investment projects. He also informed the President on the process of creating investment funds. According to S. Karayan, the Syunik free trade zone, which has been created to attract investments, will start functioning in fall of 2017.

The report of Suren Karayan included also the works carried out by the Ministry in the area of tourism. According to the report, the number of internal tourists will double by the year 2020. 

The President of Armenia issued relevant instructions. 

 





LATEST NEWSAll Today news

11:32 • 23/10

Armenian official blames Azerbaijan over stalemate in Karabakh peace talks

11:09 • 23/10

Ardshinbam and the Black Sea Trade and Development bank sign USD15m loan agreement

09:55 • 23/10

Explosive found in mailbox at George Soros’s Westchester county home

09:33 • 23/10

Mexico issues warning over 'extremely dangerous' storm

09:17 • 23/10

Trump calls Khashoggi's death 'a plot gone awry'

22:03 • 22/10

Ucom Management in Ucom Service Centers

17:53 • 22/10

Zohrab Mnatsakanyan hosts OSCE official to discuss regional developments

16:55 • 22/10

Bradley Cooper and Irina Shayk brave a chilly day in Manhattan with little girl Lea to the park

16:37 • 22/10

Electoral reforms key effort towards ruling out 'monolith parliament'

16:01 • 22/10

US scrapping INF to make world more dangerous, force Russia to ‘restore balance’

15:37 • 22/10

World's longest sea-crossing bridge opens to connect Hong Kong and China

15:27 • 22/10

ARF-D to run for parliament ‘as opposition party’

14:56 • 22/10

OSCE to assist in effective anti-corruption investigations in Armenia

14:10 • 22/10

Caravan of migrants swells to 7,000 and stretches more than a mile long as they continue marching towards the US border

13:33 • 22/10

Khashoggi 'given police protection' in Turkey

13:25 • 22/10

Budapest 2018: Armenian wrestler celebrates victory in opening match

13:05 • 22/10

Actor Selma Blair reveals she has multiple sclerosis

12:56 • 22/10

Syria describes US-led coalition’s actions as genocide

12:46 • 22/10

Armenian parliament vice speaker conducts working trip to St Petersburg

12:17 • 22/10

Catholicos Garegin II in Italy for working visit

11:30 • 22/10

Stephen Hawking’s wheelchair, thesis for sale

11:13 • 22/10

Saudi official provides another version of Khashoggi death

10:33 • 22/10

New chief architect of Yerevan appointed

09:47 • 22/10

Trump, Erdogan discuss Saudi journalist's murder in phone call

09:42 • 22/10

Gorbachev warns of Trump nuclear treaty plan

09:12 • 22/10

Egypt extends emergency for three months  

15:05 • 20/10

Nikol Pashinyan in Lebanon for two-day working visit  

14:44 • 20/10

Armenian writer wins Golden Knight literary award in Russia

14:22 • 20/10

Bako Sahakyan congratulates Catholicos Aram I on 50th anniversary of ordination

13:40 • 20/10

Doctors pluck 11 live worms from a five-month-old's eyeball

11:18 • 20/10

Macedonia votes to start name change process

10:41 • 20/10

Trump advisor Rudy Giuliani 'planning trip to Armenia'

09:19 • 20/10

Afghanistan holds parliamentary election amid threats of violence

09:10 • 20/10

Khashoggi case: Saudi TV says missin g journalist 'died after fight'

18:12 • 19/10

Kocharyan lawyers to file appeal with European court

17:10 • 19/10

No prison overcrowding in Armenia, says acting minister

16:21 • 19/10

Australian family's terror as bull shark jumps into tinny during fishing trip

16:07 • 19/10

Aliyev travels to Turkey for working visit  

15:35 • 19/10

Turkish violin virtuoso plays Komitas to commemorate Ara Guler (video)

15:07 • 19/10

eBay revenues up to take on Auto Trader in car ads

15:03 • 19/10

Azerbaijan rescues Iranian sailors 'poisoned by chemicals'

14:38 • 19/10

October 24 marks National Assembly's latest date to elect prime minister  

13:46 • 19/10

Facebook sued over video viewing figures

13:02 • 19/10

Russian animators producing screen version of Saroyan’s 'The Summer of Beautiful White Horse'

12:07 • 19/10

Park dedicated to 2,800th jubilee of Yerevan to open in spring  

11:42 • 19/10

Customs beagle sniffs out pig head in luggage

11:30 • 19/10

Republican Party’s Executive Board discusses electoral reform

11:15 • 19/10

Jenna Bush Hager convinced the White House is haunted

10:43 • 19/10

Forthcoming elections will be the most important in the history of modern Armenia, says international expert

10:16 • 19/10

US-led coalition strikes civilian homes in Deir ez-Zor 

10:11 • 19/10

Apple announces iPad Pro and Mac event for October 30

09:38 • 19/10

Mexico sends police to southern border

09:15 • 19/10

ISIS take 700 hostages including US and European nationals and will 'execute 10 people a day', Putin says

18:04 • 18/10

UK minister steps out of Saudi summit

17:52 • 18/10

Hamilton says chasing Schumacher's record was never the plan

17:33 • 18/10

Republican politician 'confident' about party's future success

17:02 • 18/10

100-year-old woman in wheelchair gets married to 74-year-old man 

16:46 • 18/10

ECHR fines Armenia over procedural violations in March 1, 2008 criminal cases

16:04 • 18/10

Washington Post publishes Saudi journalist's final column

15:22 • 18/10

Kocharyan vows to create political party after 'comeback'

12:22 • 18/10

ADB to offer $50m worth budgetary assistance to Armenia

12:06 • 18/10

168 Zham: EU and Russia have different political expectations from Armenia

11:10 • 18/10

Hraparak: Koharyan stepping aside

09:52 • 18/10

Elon Musk ‘planning to buy’ $20 million of Tesla stock

09:22 • 18/10

Venezuela arrests military officers over Maduor assassination attempt

09:12 • 18/10

World-renowned Turkish-Armenian photographer Ara Guler passes away

09:02 • 18/10

Norway issues apologies to WW2 'German girls'

17:54 • 17/10

Google unshackles Android-device firms

17:06 • 17/10

Ariana Grande takes social media break

16:36 • 17/10

Armenia improves positions on Global Competitiveness Index

16:29 • 17/10

Huawei Mate 20 Pro launches with in-screen fingerprint sensor

16:09 • 17/10

Crimea terrorist attack: 13 killed, dozens injured in Kerch college explosion

15:34 • 17/10

Turkey closed border with Armenia for Azerbaijan, says former envoy

15:10 • 17/10

World stocks extend rise after blockbuster US earnings

14:37 • 17/10

Pashinyan introduces new acting minister of economic development and investments

14:09 • 17/10

Fabregas in Guinness World Records for reaching 100 PL assists

13:50 • 17/10

Turkey ‘hopes to enter Saudi consul's residence’ on Wednesday  

13:29 • 17/10

Chinese woman kills herself and two kids after husband fakes death

12:43 • 17/10

Armenia's position on Karabakh 'clearly enshrined' in government program – Foreign Ministry

12:15 • 17/10

Kourtney Kardashian jumps with joy as she ignores sister Kim’s most exciting comment

11:33 • 17/10

Hraparak: Anti-Armenian status for Karabakh 'unnegotiable'

11:01 • 17/10

Man who illegally crossed Armenia- Turkey border 'identified as ethnic Kurd'

10:48 • 17/10

Nations League: Armenia beat Macedonia 4-0

10:15 • 17/10

Kocharyan critical about plan to hold snap elections

09:42 • 17/10

Pashinyan tenders resignation to pave way to snap elections

09:32 • 17/10

At least 30 killed by hurricane Michael

09:12 • 17/10

Canada legalizes marijuana and cannabis

18:09 • 16/10

Thirty years in a metal container damaged by enemy firings

17:41 • 16/10

Moody’s assigns B1 rating to Inecobank

17:26 • 16/10

Russian expert slams Moscow’s weapons trading with Azerbaijan  

16:59 • 16/10

All Ucom TV Subscribers to Enjoy 4 Most Demanded TV-Series’ Channels

16:29 • 16/10

ARF-D not 'not planning to nominate' prime ministerial candidate

15:57 • 16/10

Outgoing US ambassador to Armenia speaks of 'occupied terrritories' surrounding Karabakh

15:34 • 16/10

Google pulls out of Saudi investor conference

14:49 • 16/10

Turkey gets representation in IMF executive directorate

14:44 • 16/10

Bulgaria not to join Eurovision 2019 Song Contest

13:23 • 16/10

Armenian president signs decrees to appoint new cabinet ministers

13:03 • 16/10

Armenian arm wrestling athlete named world champion in Turkey

12:40 • 16/10

Armenia: Three new regional governors appointed

12:04 • 16/10

2018 marked period of unique democratic reforms in Armenia, Zohrab Mnatsakanyan says at EaP ministerial summit