Tweet
EXPERT: INVESTMENTS INTO ARMENIA'S ECONOMY DWINDLED THIS YEAR AS EXPORTS SHRUNK
YEREVAN, September 25. /ARKA/. Tatul Manaseryan, an economist and
the head of Alternative think tank, told journalists on Wednesday
that the flow of investments into Armenia's economy dwindled this
year and the country's exports shrank.
"I would like to point out unattractiveness of the domestic market
as one of factors," he said. "There are no incentives for internal
investments in Armenia, i.e. no favorable environment has been created
here to attract local businessmen's money."
If things remain unchanged, he said, their money will continue
streaming out of the country.
Speaking about exports, Manaseryan recalled that mining industry
products dominate Armenia's export.
"We are weak in processing industry, and this problem is connected
with introduction of new technologies," Manaseryan said adding that
temporary exemption of small and medium enterprises importing advanced
technologies worth over AMD 300 million from VAT would foster their
development.
Among unusual approaches in supporting small and mid-scale businesses,
Manaseryan singled out direct participation of the government in
business projects, which contracted this year, compared with two
previous years.
"We think that not only businessmen should ask the government for
support to business projects, but the government itself, ministries
and agencies, should take steps toward the business community, SMEs
and should find those competitive businesses needing support," he said.
The expert said that they can not only provide financial assistance to
businesses, but also contribute to solution of their organizational,
marketing and other problems.
Armenian economy ministry says SMEs' share in the country's GDP was
43% in 2012, as in 2011.
According to official statistical reports, Armenia's exports totaled
$952.2 million in Jan-Aug 2013 - 8.9% year-on-year growth.
The country's foreign trade turnover grew 2.8% in Jan-Aug 2013,
compared with the same period a year before, to $3656.5 million.
Aggregate investments into the real sector of Armenia's
economy made for six months of this year not through banking
system and without government administration amounted to $293
million - 34.7% year-on-year decline. ----0---- - See more at:
http://arka.am/en/news/economy/expert_investments_into_armenia_s_economy_dwindled _this_year_as_exports_shrunk/#sthash.myOjnRHv.dpuf
YEREVAN, September 25. /ARKA/. Tatul Manaseryan, an economist and
the head of Alternative think tank, told journalists on Wednesday
that the flow of investments into Armenia's economy dwindled this
year and the country's exports shrank.
"I would like to point out unattractiveness of the domestic market
as one of factors," he said. "There are no incentives for internal
investments in Armenia, i.e. no favorable environment has been created
here to attract local businessmen's money."
If things remain unchanged, he said, their money will continue
streaming out of the country.
Speaking about exports, Manaseryan recalled that mining industry
products dominate Armenia's export.
"We are weak in processing industry, and this problem is connected
with introduction of new technologies," Manaseryan said adding that
temporary exemption of small and medium enterprises importing advanced
technologies worth over AMD 300 million from VAT would foster their
development.
Among unusual approaches in supporting small and mid-scale businesses,
Manaseryan singled out direct participation of the government in
business projects, which contracted this year, compared with two
previous years.
"We think that not only businessmen should ask the government for
support to business projects, but the government itself, ministries
and agencies, should take steps toward the business community, SMEs
and should find those competitive businesses needing support," he said.
The expert said that they can not only provide financial assistance to
businesses, but also contribute to solution of their organizational,
marketing and other problems.
Armenian economy ministry says SMEs' share in the country's GDP was
43% in 2012, as in 2011.
According to official statistical reports, Armenia's exports totaled
$952.2 million in Jan-Aug 2013 - 8.9% year-on-year growth.
The country's foreign trade turnover grew 2.8% in Jan-Aug 2013,
compared with the same period a year before, to $3656.5 million.
Aggregate investments into the real sector of Armenia's
economy made for six months of this year not through banking
system and without government administration amounted to $293
million - 34.7% year-on-year decline. ----0---- - See more at:
http://arka.am/en/news/economy/expert_investments_into_armenia_s_economy_dwindled _this_year_as_exports_shrunk/#sthash.myOjnRHv.dpuf