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Dilijan to be transformed into a major tourist hub
... representatives of other relevant bodies; and investors. It was previously reported that the World Bank plans to provide $100 million to Armenia for the creation of tourism clusters in communities such as Areni, Jermuk, Goris, Dvin, Gyumri, Aparan, Yeghegis, Sevan, and Dilijan. The TRIP program will be implemented from 2025 to 2029 and aims to improve the viability of the territories and communities involved in the clusters, increase tourism attractiveness, and stimulate the growth of additional income and ...
12/26/2024ADB explores special economic zone in Gyumri
... area some have referred to as the 'Middle Corridor,'" Lambert said. According to him, the ‘’Dry Port’’, ‘’Free Trade Zone’’, and airport together could increase the attractiveness of Armenia and, particularly, Gyumri as a transit hub and enhance prospects for economic growth. -0-
11/15/2024Plug and Play is already in Armenia: 10 Armenian startups will travel to Silicon Valley
... present their products, brand Armenia and Armenian teams," said Simonyan. He noted that the program will be long-term, and at present, a pilot version is being implemented. One of the goals of the program is to help turn Armenia into a technology hub, develop an innovative ecosystem and economy. The Deputy Minister had difficulty answering a question from ARKA news agency about whether there was any statistics on how many startups are created annually in Armenia and how many of them succeed. ...
11/01/2024Overhaul of Sevan transport hub will cost 432.4 million drams
The capital repair of the Sevan transport hub will cost the state budget of Armenia 432.4 million drams, Armenpress reported with reference to the Department of Urban Development, Land and Infrastructure Management of the Office of Gegharkunik Region’s Governor. YEREVAN, September 19/ARKA/....
09/19/2024Afeyan Philanthropies Launches Afeyan Initiatives for Armenia (AIFA)
... Initiatives for Armenia (AIFA), an initiative dedicated to building a more vibrant, resilient, and prosperous Armenia. AIFA leverages more than two decades of philanthropic efforts in Armenia by the Afeyan family and serves as the strategic and operational hub for its current and future development initiatives in Armenia. Talar Kazanjian, a seasoned organizational and nonprofit leader in Armenia and globally, has been appointed Executive Director of AIFA. Ms. Kazanjian will strategically assess and address ...
09/05/2024Pashinyan: master plan for Academic Campus completed
... will accommodate eight state-run and eight more international or private universities, all within a modern "green" technology environment. Pashinyan emphasized that this research and educational environment will also serve as a national hub for intellectual and sports activities. He mentioned that details of the Academic Campus project will be presented on various occasions and in different formats in the near future. The concept for the master plan of the Academic Campus, which will ...
08/28/2024Armenia proposes cooperation on Gyumri dry port to UAE
... Gyumri that will be connected with Shirak International Airport, the railway, and the North-South transport corridor. The Shirak province is expected to transform into an industrial zone, with the dry port serving as a multifunctional and multimodal hub for regional and international companies needing to consolidate customs processes.
07/08/2024Head of EDB Research Centre names condition for Armenia's involvement in Eurasian transport framework (EXCLUSIVE)
... transport corridors. I want to talk about a not quite standard approach: a Eurasian transport framework not only for cargo, but also for passengers," Zaboev said. As an example, he cited Yerevan's Zvartnots International Airport, which is a transit hub through which a large number of transit passengers pass. "Passenger transit is a net export of transport services, net export revenue of the country, new jobs. Therefore, an increase in passenger traffic - tourist and transfer passengers who ...
06/28/2024Yerevan Gastronomic Days is not only about new food culture in Armenia, but also about future
... and the competition was to show the whole spectrum of mastering culinary skills from beginners to masters. According to her, Armenian society must realise that any great journey begins with the first step. "Armenia has the potential to become a hub of culinary festivals between East and West. Perhaps the young chefs participating in our chef competition will one day receive Michelin and Bocuse d'Or stars," Manoukian said. Charity Gala Dinner Yerevan Gastronomic Days is also a strategic ...
06/20/2024First muesli company established in Armenia
... the human body and health. We took the main Armenian fruits: plums, apricots, apples, peaches and built a composition around them, each of which has its own purpose. Mornin is one of the beneficiaries of the joint project of Acba Federation and Impact Hub. We went through an interesting and varied one-year program with many interesting and professional mentors who shared their knowledge, skills and advice, for which I am very grateful to them," says Magda Karapetyan. Mornin plans to export its ...
05/23/2024EBRD and InecoBank bolster science innovation hub in Yerevan
... and Applied Science in Yerevan. This partnership includes a shared financing of €14.5 million, with the EBRD contributing €7.25 million. The funds will ignite the development of a multifaceted complex designed to serve as a cutting-edge innovation hub equipped with state-of-the-art facilities for engineering and applied sciences, fostering innovation and economic growth in Armenia . The total project budget of €30 million, in parallel co-financed by the EU Delegation to Armenia and TUMO, is ...
05/15/2024Turkey expects Armenia to make concessions and sign peace treaty with Azerbaijan
... the world as a country that has control over the economic system, the total "weight" of which is more than $1 trillion,' he said quoting Turkish Minister of Transport as saying that this will give them an opportunity to become an important hub on the China-West trade route.-0-
04/12/2024Hong Kong's Markets Regulator Issues Warning Against Crypto Exchange Bybit
... against entities that do not have a nexus with Hong Kong is likely to be difficult." Hong Kong is attempting to strike a balance between protecting investors and projecting the jurisdiction as crypto-friendly in its goal to become a global crypto hub. Earlier this month, the SFC issued a warning against BitForex, another crypto exchange. "The SFC is concerned that these products have also been offered to Hong Kong investors and wishes to make it clear that no entity in the Bybit group is ...
03/15/2024Doing Digital Forum Returns Featuring Brett King as Keynote Speaker
... Forum is entitled “Embracing Opportunities” and will focus on the latest approaches to digital transformation in finance and various business sectors, examine opportunities and the specifics of their localization, and position Armenia as a growing hub for digital transformation within the global technological and business community, thus enhancing the country's competitiveness. Ameriabank is the fintech partner of the forum. This year's Doing Digital Forum promises an exciting lineup of foremost ...
03/05/2024Acba Federation organizes annual incubation fellowship program for the 7th time
In cooperation with Impact Hub Yerevan, Acba Federation organizes the annual incubator fellowship program for the 7th time. YEREVAN, February 8. /ARKA/. In cooperation with Impact Hub Yerevan, Acba Federation organizes the annual incubator fellowship program for the 7th time....
02/08/2024Green Rock Management Group proposes to invest $8.5 mln. in the reconstruction of Yerevan's Circular Park
Green Rock Management Group developer said in a press release that several months ago, it had received a proposal from the Yerevan Municipality to present a project for the transformation and improvement of the Circular Park, known as O4 Green Urban Hub. YEREVAN, January 17. /ARKA/. Green Rock Management Group developer said in a press release that several months ago, it had received a proposal from the Yerevan Municipality to present a project for the transformation and improvement of the Circular ...
01/17/2024Armenian government to invest $37 mln in 'dry port' project in Gyumri
... so-called 'dry port' in the second-largest city of Gyumr, the press service of the government said. According to Economy Minister Vahan Kerobyan, the project’s implementation will create thousands of new jobs. The 'dry port' is to become a transportation hub connected by air, land and railway transports with nearby ports and major transportation routes. Kerobyan pointed out that the project is integrated into the Crossroads of the Peace project, development by Armenian government to reopen transport links ...
01/16/2024Armenia can become a bridge between Iran, India and EEU countries - Armenian Deputy Foreign Minister
... Sea ITC Armenia's participation in the Persian Gulf-Black Sea multimodal corridor project, in addition to the North-South transport corridor, will allow it to diversify its cargo transportation routes, use ports in Iran and become an important transit hub. Georgia, Bulgaria and Greece are also among the participants of this international initiative put forward and promoted by Iran. India is also interested in participating in the project. -0-
12/05/2023Yerevan Municipality to spend about 60 million drams on artistic lighting of Hahgtanak Bridge
... contract with the mayor's office. The idea had been approved by the Ministry of Education, Science, Culture and Sport. "Since this structure is one of the most representative bridges of the capital and an important architectural and construction hub, the company has committed to use modern LED solutions," Kostanyan noted. The 200 meter-long bridge, built over the Hrazdan River, was opened in 1945. It was named Haghtanakh Bridge to commemorate the victory over Nazi Germany in World War II....
11/09/2023Armenia and China discuss possibilities of direct air communication
... looked into chances to deepen cooperation in tourism and discussed launch of direct flights between Armenia and China. "Dry port" in Gyumri According to the government, the "dry port" is to become a multifunctional and multimodal hub to serve regional and international companies that need to consolidate customs processes. It will allow the Shirak region to become an industrial zone. The "Dry Port" will be adjacent to both Shirak International Airport and the railway ...
11/01/2023Daily Mail: Armenia intends to raise trade turnover with Great Britain up to 1 billion pounds
... ties,' he said.No floats of Armenian companies are planned on the London market yet but Kerobyan says this is a possibility for the future. The government is keen to promote its tech sector, concentrated in the capital Yerevan. Its status as a tech hub dates back to the USSR, when as one of its constituent republics it served as a centre for research. It has previously been dubbed the 'Silicon Valley of the Soviet Union.' Armenia is now looking to regain that crown, with Kerobyan noting that multinational ...
10/30/2023India considers joining 'dry port' project in Armenian Gyumri
... second-largest town of Gyumri. Within the framework of the Global Maritime Summit of India, the Deputy Minister spoke at the Indo-Pacific Roundtable. According to the Armenian government, the "dry port" is to become a multifunctional and multimodal hub to serve regional and international companies that need to consolidate customs processes. It will allow the Shirak region to become an industrial zone. The "dry port" will be adjacent to both Shirak International Airport and the railway ...
10/20/2023Armenia needs private sector investment and human capital development - EBRD First Vice President
... essential to support regional trade and cooperation between the two countries. Enhancing digitalization throughout the country especially in rural areas is a priority. Especially considering Armenia’s capacity and ambition of becoming a regional digital hub. The EBRD supported Telecom Armenia last year to expand their network in rural areas to improve fixed and mobile networks and reliable internet connections around the country. Decarbonisation and greening of the economy remains a big challenge. EBRD ...
09/27/2023Feasibility study being developed for ‘Dry Port’ project in Armenian Gyumri- Deputy Minister
... practical implementation stage of the project will begin and decisions on further steps will be made," Teryan said. About "Dry port" in Gyumri According to the government, the "dry port" is to become a multifunctional and multimodal hub to serve regional and international companies that need to consolidate customs processes. It will allow the Shirak region to become an industrial zone. The "Dry Port" will be adjacent to both Shirak International Airport and the railway ...
08/15/2023EUMA opens additional operational hub in Kapan
The EU Mission in Armenia (EUMA) has opened an additional operational hub in Kapan, the administrative center of the southern Armenian province of Syunik bordering Azerbaijan. YEREVAN, August 2. /ARKA/. The EU Mission in Armenia (EUMA) has opened an additional operational hub in Kapan, the administrative center of the ...
08/02/2023FT: Car exports from Armenia to Russia increased 200-fold to about $180 mln in January
... factories. Cars arrive primarily from the US via the Black Sea port of Poti in Georgia, brokers and buyers said. Many are then brought to Armenia for customs clearance, as the country shares a customs-free trade bloc with Russia. The city of Gyumri is a key hub from where the vehicles head north to Russia by road, crossing through Georgia again. In January 2022, before the start of Russia’s invasion of Ukraine, Armenia imported $2.8mn worth of cars from the US. But a year later, that number soared to ...
07/19/2023Armenia can become energy hub of the region – Pashinyan
Armenia can become an energy hub for the region, Armenian Prime Minister Nikol Pashinyan said on Friday during a panel session titled "Eurasia of the Future: from Challenges to Solutions" at the Eurasia Congress 2023 in the Russian city of Sochi. SOCHI, June 9. /ARKA/....
06/09/2023Moody's: Russia's disengagement reignites tensions between Armenia and Azerbaijan
Russia's role as a major diplomatic partner and security guarantor in the CIS, as well as a key economic hub, is being eroded, Moody’s says in a report. YEREVAN, May 25, /ARKA/. Russia's role as a major diplomatic partner and security guarantor in the CIS, as well as a key economic hub, is being eroded, Moody’s says in a report. It says this has ...
05/25/2023Investment attractiveness of Armenia will be presented at Orion Summit 2023 in New York
... business ties. Orion Summit 2023 will be an ideal platform for startups and investors to meet and for creating new business ties,” said Vahan Kerobyan, the Minister of Economy of the Republic of Armenia. About Orion The Orion Worldwide Innovations is a hub for startups to grow and develop an interconnected ecosystem offering a full suite of services. Orion creates market entry opportunities for investor companies in the U.S., improves their customer acquisition strategies, helps them stay competitive ...
05/24/2023Production of natural vegetable oils established in Spitak
... to expand their activity and create workplace for more than 50 women in Lori region. White violet is one of the beneficiaries of Acba Federation educational program; thanks to the financing the company received a chance to become a member of Impact Hub ecosystem within one year. Thanks to the program, the social enterprise has passed trainings and received consultation on methods in different spheres. In the future, the product range will expand; after positioning themselves as a vegetable oil manufacturer ...
04/18/2023Ameriabank presents its digital transformation experience at Doing Digital Forum in Yerevan
... Management and Services Director at Ameriabank, said in her welcoming speech that the driving force behind the digital transformation are people. "We have a strong human capital, which is a solid foundation for Armenia to become a new regional hub for technology and innovation. And what will lead us to this hub? Technology? No, technology is not enough. The answer is people," she said. SPRING PR co-founder Tatevik Simonyan said the Doing Digital platform was created to encourage active ...
04/05/2023The first “Doing Digital” Forum will be held in Yerevan
... Ameriabank reported. The Forum’s founder and organizer is SPRING PR Company, co-organizer - Ameriabank. The “Doing Digital” Forum aims to explore the latest trends and best experience in digital transformation and establish Armenia as a leading digital hub and enhance the country's competitiveness. The event’s innovation partner is Visa, investment partner - Apricot Capital. The event features Chris Skinner as a keynote speaker, a renowned global expert in fintech and digital transformation. He is ...
03/13/2023How Armenia can improve its investment climate: 10 tips from Andrey Movchan
... world, first of all Iran and Russia; 9) Forming institutions to raise funds from the Diaspora for infrastructure and investment charity projects, as opposed to donations for consumption; 10) Searching for areas in which Armenia can become a regional hub and provider for neighboring countries. These may be medicine, banking, which are already quite well-developed in Armenia, logistics, education. --0--
03/09/2023"Armenia manages to sit on two chairs": Yandex representative on impact of arrivals of Russian nationals to country
"In the new world that emerged after February 24 last year (after Russia's invasion of Ukraine), it is very difficult to sit on two chairs, working for the Armenian economy and the West,' said Yandex New Products Director, Yandex Hub curator in Armenia Dmitry Stepanov, speaking last Sunday at an economic forum, hosted by the Russian-Armenian University in Yerevan. YEREVAN, March 8. /ARKA/. "In the new world that emerged after February 24 last year (after Russia's invasion ...
03/08/2023Yandex to expand office in Armenia
Russia’s largest technology company Yandex is planning to expand its office in Armenia, Yandex New Products Director and Yandex Hub curator in Armenia Dmitry Stepanov said last Sunday, while speaking at an economic forum hosted by the Russian-Armenian University in Yerevan. YEREVAN, March 7. /ARKA/. Russia’s largest technology company Yandex is planning to expand its office ...
03/07/2023BP Azerbaijan declares force majeure on crude loadings from Turkey's Ceyhan port
... Marine Terminal (CMT), BP Azerbaijan spokeswoman Tamam Bayatly told Reuters by email. BP Azerbaijan operates the Azerbaijan and Georgia sections of the Baku-Tblisi-Ceyhan (BTC) pipeline. Azerbaijan uses the Turkish port of Ceyhan as its main crude export hub, with a flow of about 650,000 barrels per day (bpd). The BTC terminal at Ceyhan was initially expected to resume on Feb. 8 or 9, shipping and trading sources told Reuters earlier in the week as damage at the terminal was being assessed. A shipping ...
02/09/2023“Investments Position Armenia”. Orion Summit 2023 will be held in June in New York
... activities. We are ready to cooperate and take this path with public and private companies,” said Emma Arakelyan, CEO & Founder of Orion Worldwide Innovations. About Orion: Orion Worldwide Innovations , is a startup growth and ecosystem acceleration hub and offers a full-service package to make companies investable and enter the US market, enhance their customer acquisition strategies, stay competitive, and protect their innovation. Orion is a U.S.-based company that was formed in 2017, with offices ...
01/11/2023Investment projects for creation of 'dry port' and District techno hub in Gyumri discussed
... free economic zone, distribution centers, small and medium enterprises, and an international food market. It is assumed that the Shirak region will become an industrial zone, and the "dry port" will become a multifunctional and multimodal hub to serve regional and international companies that need to consolidate customs processes. According to the business platform ‘Invest in AM’, the District techno hub project is estimated at $20 million. According to different sources, investments ...
12/15/2022Armenia's economy to see near-record growth in 2022 – Kerobyan
... happy that the government has found a way to provide it to them (10 billion dram assistance). This will enable companies in these turbulent times to reorganize properly," he said. "Some time ago, we set a goal to make Yerevan a technological hub, where talented and innovative people can be engaged. Today, the strongest competition between cities is for these very people, and it is obvious that by making Yerevan convenient for them, we will be able to make the city competitive in the world,...
12/09/2022Fitch Ratings сuts near-term gas price assumptions
Fitch Ratings has reduced its 2022-2023 assumptions for European TTF gas prices and its 2022 US Henry Hub price, reflecting reduced gas demand in Europe primarily due to lower industrial consumption, ample LNG supplies, and a warm start to the 2022-2023 winter. YEREVAN, December 7, /ARKA/. Fitch Ratings has reduced its 2022-2023 assumptions for ...
12/07/2022AI, figital and banking ecosystems - FINTECH360 international conference was held in Yerevan
... adapting banks to the rapidly changing economic landscape were discussed in their reports by WaveAccess Presale Manager Sergey Ponomarenko, Managing Director of ECA countries, Senior Partner of Senteo Inc Alexey Veretenov, and Director of Skolkovo Fintech Hub Pavel Novikov. Kairzhan Kudyarov, Chairman of the Board of CB Unistream JSC, shared his practical experience, describing how the needs of migrant workers are changing in the era of digitalization. He noted that if in 2021 the share of the online service ...
11/10/2022A branch of international Impact Hub network opens in Syunik (video)
The Syunik marz (province) in Armenia is now on the global map of the international Impact Hub network created to support startup ideas. YEREVAN, November 8, /ARKA/. The Syunik marz (province) in Armenia is now on the global map of the international Impact Hub network created to support startup ideas. A branch of Impact Hub established ...
11/08/2022YSU biologists have obtained organic fertilizer from coffee waste
... took the first position. They established new connections: the startup became a beneficiary of “Innovative Agriculture Support” program of ACBA Federation and took part in the one-year business incubation program carried out jointly with Impact Hub Yerevan. “ACBA Federation gave us an opportunity of a one-year membership at “Impact Hub Yerevan” and take advantage of all the lectures and chances that “Impact Hub Yerevan” gives. They also organize personal lectures for Acba beneficiaries....
10/26/2022Technology created by Armenian startup Revalcon conquers global markets (video)
... confident that their solution has prospects of worldwide dissemination. Revalcon is one of the beneficiaries of the Acba Fellowship program of the Acba Federation. The startup, with funding from the Acba Federation, was able to become a member of the Impact Hub ecosystem, which helped it get advice from mentors and experts from various fields. "With small human resources we help manage large areas of agricultural land, save both water and electricity and all the other resources. We applied to the Acba ...
10/10/2022Armenia to host international conference on alternative investments
... opportunities for the economy by developing the above-mentioned alternative financing sources,” said Emma Arakelyan, CEO & Founder of Orion Worldwide Innovations. About Orion: Orion Worldwide Innovations , is a startup growth and ecosystem acceleration hub and offers a full-service package to make companies investable and enter the US market, enhance their customer acquisition strategies, stay competitive, and protect their innovation. Orion is a U.S.-based company that was formed in 2017, with offices ...
10/03/2022USAID to provide nearly $3 million for Armenian artisans project
... International Development (USAID) will help Armenian artisans sell their products outside the country. The four-year project has an estimated budget of $2.86 million, the USAID press office said. The project will be implemented through the Artisan Empowerment Hub in partnership with the private sector organization NOVICA. The goal is to provide opportunities to organize the sale of handicraft products from Armenia abroad, promote the growth of local communities through economic development and support traditional ...
09/08/2022Armenia seeks to boost trade with Iran to 1$ billion a year- ambassador
... favorable for Iran. Khorram also referred to the supreme scientific status of East Azarbaijan province in Iran, announcing that province’s readiness for establishment of a joint science and technology park, which can be turned into a regional export hub. He said that the Aras River is of great importance for Iran and therefore, we expect Armenia to take major steps to control the entry of mining sewage water into it. The governor said that the private sector of that province is active in various ...
08/01/2022Armenian startups have a chance to become "unicorns." Founder of Orion WWI presents facilitation mechanisms (EXCLUSIVE)
... operate in the market and some of them have grown 100-200 times within 8-10 months. Thereby we want to show that it's possible to create such world class companies in Armenia, which can sell and have clients all over the world. These 5 companies are HiHub, Lucky Carrot, Musk Factor, Manot, Text'n Pay Me. ARKA - What kind of support do Armenian companies need to become "unicorns"? E. Arakelyan: They should not ask for support but for cooperation. They have to seek cooperation and work with ...
06/27/2022Ameriabank joins Orion Summit 2022
..., Minister of High-Tech Industry will open the Summit. Martin Galstyan, Governor of the Central Bank of Armenia will also be among the speakers. About Orion Orion Worldwide Innovations (“Orion”), is a startup growth and ecosystem acceleration hub and offers a full-service package to make companies investable to enter the US market, enhance their customer acquisition strategies, stay competitive and protect their innovation. Orion is a U.S.-based company formed in 2017, with offices in New ...
06/17/2022Ruben Vardanyan on Armenia's potential to become regional hub during global storm
... "Thanks to its historical role as a bridge between Sunni, Shiite, Orthodox and European civilizations, as well as its experience in mediating with sub-sanctioned countries, Armenia has a chance to become a regional technology, education and healthcare hub. My partners and I have initiated a Move to Armenia movement to create a stimulating environment and comfortable conditions for the best IT and creative specialists, who have arrived in the country in recent months. We already have two "unicorns,...
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