According to official data, corruption rate in Armenia reached 30 in the country, but even 30% are disastrous for such a small country. Though he didn’t give any example of corruption. Instead, he is excellently aware of the spheres, polluted with corruption more than other ones. “It is the Ministry of Security, which must fight this phenomenon. This ministry hasn’t plunged in corruption as much...

“Mshak” enterprise, which works in the field of information technology, has received $1, 200, 000 orders for production of automatic devices from many countries. However this profitable company has being neglected by the government for years. To fill informational vacuum over the company Armenian Prime Minister Andranik Margaryan visited “Mshak” today. A council was held in enterprise. The issue of what steps should government do to promote...

44 banks have been dissolved in Armenia for the latest decade. The Central Bank Governor Tigran Sargsyan considers this very natural. Experts find the development of the bank system “satisfactory”. Currently 8 commercial banks are on the verge of bankruptcy in Armenia. Tigran Sargsyan says this will not have a negative impact on depositors. He assure that the conception of so called deceived depositors is gradually disappearing, as 95% of the...

“High-level seminar on transport policy of Georgia, Armenia and Azerbaijan” is to be held at Sheraton Metekhi Palace Hotel in Tbilisi on April 18, 19. The seminar sponsors are the Transport Ministerial Congress and the World Bank. ECMT General Secretary Jack Short and World Bank spokesmen would attend the event, Georgi Nijaradze, Georgian Transport and Communication Deputy Minister, told CAUCASAPRESS...

To raise the country power security to a higher level it is necessary to pay a special attention to the building of new power blocks of the Hrazdan Thermal Power Plant and small-scale hydro power plants, Armenian Minister of Power Resources Armen Movsissyan said today. The Second International Congress on Power Supply started today in Yerevan. Issues on power supply and recyclable power resources...

Today Armenian president Robert Kocharyan assured in "Aragats" factory that more 25.000 working places will be set this year. "Whatever is done, whoever tries to prevent it the figure (i.e.21-25.000) won't be lower all the same",- he said. He also assured that he spoke about the figure 25.000 guardedly though announcing that it's spoken about the least working places figure to be set this year. "As...

"Media Expo" exhibition was opened in Yerevan today. More than 20 organizations had represented their production. Armenian products were 40-50 of their annual revenue.

Ararat villagers are going on with irrigating their fields by water from sewerage pipes since there is no other source. The villagers somehow open the pipes from time to time, to irrigate the field. The purifying station has not worked since 90-ies. The village authorities do not have enough power controls and financial means to solve the problem. The Head of the Province Authority, the State Committee...

From March 18 to 24 an assembly with the heading Agreement on Development was held in Monterey. The main admitted document has the following title “Monterey agreement.” Due to the agreement the donor countries of the world- the USA and Euro Council will increase the credits and grants given to poor countries. This agreement was made after September 11. The world understood that disagreements between the rich and the poor bring to terrorism and...

Today the senator of USA state California Jack Scott is in Armenia. It’s worth to mention that due to his initiative in some schools of California the history of Armenian genocide is being taught. The senator also tries to persuade the senate of California to admit the formula of Armenian genocide. Jack Scott’s this time visit is of economic essence. In Armenia attempts are made to establish...

The prices for "Lada" and "Gaz" cars, being imported to Armenia by the compnaies "Armenia Lada" and "Karkomavto", are likely to increase. Proceeding from economic interest and need for protection of external market of Armenia, the Custom Committee decided to make custom clearance of the above cars based on their market price. The dispute between the Custom Committee and the above companies is now...

By the help of the USA government Armenian energetic sphere is enriched with modern automatic system. From last October till today because of the counting machine placed in Armenergo wastings are reduced in 2%. The system, covering the whole territory of the republic, includes 3300 modern electronic counters. At the counting center it’s possible to count the produced energy every 30 minutes. Due...

In 2004 all buildings in Yerevan will be provided with round-the-clock water supply. Mr. Martirosyan, the chairman of Water Economy State committee has come to a conclusion like this during the 6-day-long negotiations with "A Utility" company president Andrea Mangano.As Mr. Martirosyan thinks, tenants' wish and technical means are neccesary for round-the-clock water supply. Tenants are to set water-...

The center for Central and Eastern Europe studies of Rutgers state University is in try to support businesswomen of Armenian villages. Under the patronage of the State Department of USA, the program "Priority of village women in Armenia" will be implemented in Armenia. First, women enterpreuners of villages are to submit their business-plans for the consideration of the American organization. Based...

From today the management of the company “Nairit 1” is executed by the English company “Ransat”. Today the new executive director of “Nairit” Anil Kumar informed that in 30 days cosmetic repairments will be done and in a month “Nairit” will start working. After 3-4 months the workers of “Nairit” will receive their debts of salaries. The new director stated that there will be no cuts in staffing. He said “Your experts in the...

Today the Consumers' International Day is celebrated. "Consumers' rights are not protected in Armenia",- Melita Hakobyan, the head of Consumers' National Association, warns against that.The market is overfilled with goods of poor quality. Consumers are unaware of their rights fixed in the Code and that's why are unable to protect themselves,- says Melita Hakobyan.The law on consumers' rights protection...

Today President Robert Kocharyan visited the "Masis Tobacco" factory in Ararat province. A deliberation on "Grand Holding" development prospects took place with the President's, the Industry and Trade as well as Agriculture Ministers' and the factory authority' participance.The President promissed that economic growth will be this year as well. As he thinks, even the already started pre-election process...

Project on Armenia energy system development has been elaborated in the Ministry of Power Resources. Investment on about $1.5 bln. is forseen to be made in the Power field till 2020. Power producing and distributing stations are suggested to be privatized. The high voltage nets and the Nuclear Power Station will keep remaining in the State property.What is for the distributing nets, the project on...

The USA State Department and the Nuclear Regulating Body are on the point of financing a new project. Hospitals, enterprises, scientific-educational establishments and the control State body, i. e. institutions possessing radioactive sources will be provided with technical support. According to the American side data the volume of financing will be of about $1.000.000 annually.The Azerbayjan delegation...

The trade-economic committee session of the Black sea economical cooperation Parliamentary Assembly took place in Yerevan. The deputees approved the recommendation to represent it to the session in Tbilisi in June.The Armenian delegation head Viktor Dallakyan informs that the plank on reopening of highways is included in the recommendation at the Armenian suggestion. The Turkey delegation head Nekati...

2750 out of 9000 Armenian high-rankers haven't yet represent the State Income Ministry the declaration on income and estate. The Ministry of State Income Ervand Zakharyan stresses the importance of making fairs employees pay taxes. As he says about 500 mln. drams from each fair are transferred monthly to the State budget.Mr. Zakharyan also assures that the new administartions won't interfere the managing...

Lets co-operate with condominiums to solve the problem of energetical economy in Armenia. The experts of the USA international development company try to solve the problem of heating this way. Energetical Economy Alyans is trying to execute the Municipal energetical economy programme in Armenia. Due to the executors of the programme, it is not easy to practise this in Armenia because condominiums...

In the framework of the small and medium enterprises support project the Germany Government will allocate credits of 5.1 mln Euro to Armenia through the KFW bank. The covenant was signed by the newly-appointed ambassador of Germany in Armenia Hans Wolf Bartels and the Central bank chairman Tigran Sargsyan.The credit will be allocated for 40 years for the 0,45 rate of interest. The Central bank will...

"The corrupted court system is the first obstacle in the way of foreign investments in Armenia". Alexandr Poghosyan, the "Alfa+" consulting company chairman thinks so. Representatives of 15 consulting agencies were invited by the Armenian Development Agency to suggest projects on economy develpoment. Opinions on investments were given but no projects were suggesed.As the Armenian Development Agency...