Kerobyan dismisses claims that online retailer Wildberries ruins local businesses

YEREVAN, May 25. /ARKA/. Russia’s largest online retailer Wildberries is not ruining Armenian companies involved in trade, Armenian Economy Minister Vahan Kerobyan said on Wednesday.

"Wildberries is one of Armenia's largest taxpayers, ranking 20th in the latest list of the corporate taxpayers in the first quarter of this year," the minister said during a government Q&A session in parliament.

He recalled that according to a string of amendments made to the legislation regulating e-commerce last year foreign companies operating in the Armenian market must pay VAT in Armenia. This was not the case in the past that gave foreign companies a serious advantage over local business entities.

"We operate in conditions of free market competition, and there is no need for additional government intervention. Companies that work by traditional, inefficient methods should give way to more technologically advanced ones, with higher productivity," the minister stressed.

Kerobyan pointed out that there are tens of thousands of vacancies in Armenia, so if some people can't do business, they can try their hand at other spheres.

In May 2022, Wildberries opened its first logistics center in Armenia to launch direct sales of goods of local businesses. In December 2022, Wildberries launched direct sales of goods from Armenia to other countries, starting from Russia. Thanks to this, producers in Armenia got an opportunity to expand the range of their products on the online platform and increase revenues. --0--