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The case of 12 people accused of embezzlement of 412 million drams referred to court
... fraud and abuse of power in the Ministry of Economy were initiated. On 30 January, Deputy Minister Ani Ispiryan was dismissed on suspicion of involvement in fraudulent distribution of subsidies for intensive orchards. On 14 February, Minister Vahan Kerobyan announced his resignation. He is one of the defendants in the criminal case on abuse of official powers, along with several other officials of the Ministry of Economy, as well as the head and employees of private Synergy company. On 16 February,...
07/31/2024Yerevan Mayor accuses former minister Kerobyan of telling a lie
Yerevan Mayor Tigran Avinyan accused today former Economy Minister Vahan Kerobyan of lying, when claiming that he failed to provide a report on the activities of the Armenian National Interest Fund (ANIF) when serving as Chairman of its Board. YEREVAN, 24 July. /ARKA/. Yerevan Mayor Tigran Avinyan accused today former ...
07/24/2024The term of house arrest of Armenia's former Economy Minister Vahan Kerobyan has ended
The term of house arrest of Armenia's former Minister of Economy Vahan Kerobyan has expired. YEREVAN, 17 June. /ARKA/. The term of house arrest of Armenia's former Minister of Economy Vahan Kerobyan has expired. The ex-minister was placed under house arrest by a local court on 16 February. Kerobyan is a defendant in a ...
06/17/2024Charges against ex-Armenian Economy Minister Vahan Kerobyan changed - lawyer
The charges against former Armenian Economy Minister Vahan Kerobyan were changed last week: the wording ‘public damage to the state’ was excluded from the indictment, Kerobyan's lawyer Vache Simonyan said. YEREVAN, 10 June. /ARKA/. The charges against former Armenian Economy Minister Vahan Kerobyan ...
06/10/2024Law-enforcers terminate criminal prosecution of ex employees of Ministry of Economy after they confess guilt and repent
... Karobyan, a defendant in the case, remains under house arrest. On 30 January, Deputy Minister Ani Ispiryan was dismissed after being suspected of involvement in the fraudulent distribution of subsidies for intensive gardens. On 14 February, Minister Vahan Kerobyan announced his resignation. He is one of the defendants in a criminal case on abuse of official powers, along with several other officials of the ministry. -0-
06/06/2024Two new deputy economy ministers appointed in Armenia
... connection with two criminal cases of fraud and abuse of power. On January 30, Deputy Minister Ani Ispiryan was dismissed on suspicion of involvement in fraudulent distribution of subsidies for intensive gardens, and later she was indicted. Minister Vahan Kerobyan announced his resignation on February 14. He is one of the defendants in the criminal case on abuse of power, along with several other officials of the Ministry of Economy and the head and employees of Synergy Company. According to the court ...
04/01/2024Armenian Prime Minister comments on dismissal of ex-minister Vahan Kerobyan
Armenian Prime Minister Nikol Pashinyan commented on the resignation of Economy Minister Vahan Kerobyan, who is a defendant in a criminal case. YEREVAN, March 7. /ARKA/. Armenian Prime Minister Nikol Pashinyan commented on the resignation of Economy Minister Vahan Kerobyan, who is a defendant in a criminal case. "I have to say directly ...
03/07/2024Gevorg Papoyan appointed Minister of Economy of Armenia
... signed a decree today to appoint Gevorg Papoyan as new Minister of Economy. YEREVAN, March 5. /ARKA/. Armenian President Vahagn Khachaturyan has signed a decree today to appoint Gevorg Papoyan as new Minister of Economy. Papoyan is replacing Vahan Kerobyan, who resigned on February 14, 2024 amid a corruption scandal involving several officials of the ministry. Papoyan was elected as a member of the Armenian Parliament in the June 2021 snap elections. In August he was elected Chairman of the Standing ...
03/05/2024Ruling party nominates Gevorg Papoyan for post of economy minister
... party, chaired by Prime Minister Nikol Pashinyan, approved his candidacy last Friday,. Papoyan was elected to Parliament in 2021 August, serving as Chairman of the Standing Committee on Financial-Credit and Budgetary Affairs. Papoyan will replace Vahan Kerobyan, who resigned on February 14, 2024 amid an ongoing corruption investigation involving the ministry’s officials. Kerobyan is implicated in an alleged rigging of a procurement tender which was organized by the Ministry of Economy and invalidated ...
02/26/2024Court puts ex-Economy Minister Vahan Kerobyan under house arrest
Armenian Anti-Corruption Court chose a 2-month house arrest for ex-Economy Minister Vahan Kerobyan. YEREVAN, February 16. /ARKA/. Armenian Anti-Corruption Court chose a 2-month house arrest for ex-Economy Minister Vahan Kerobyan. Kerobyan was detained on Thursday by law-enforcers as part of an ongoing corruption investigation....
02/16/2024Five high-ranking Economy Ministry officials, including ex-Minister Kerobyan, accused of corruption
... which in 2023 June ruled to declare the decision of the tender commission invalid. Only on August 31, 2023 the commission recognized Harmonia as the winner of the tender. The Investigative Committee spokesman, Gor Abrahamian, told azatutyun.am that Kerobyan is among five ministry officials indicted in the case. Synergy’s founder Ashot Hovanesian and two current and former female employees of the company were also arrested but later the women who have little children were set free pending investigation....
02/16/2024Vahan Kerobyan resigns as Armenia's Minister of Economy
Vahan Kerobyan said today that he is no longer Armenian Minister of Economy. YEREVAN, February 14. /ARKA/. Vahan Kerobyan said today that he is no longer Armenian Minister of Economy. "It so happens that as Minister of Economy I will no longer serve ...
02/14/2024Armenia should introduce duty on export of metal semi-finished products - Kerobyan
Armenian Economy Minister Vahan Kerobyan today called for introducing a duty on exports of metal semi-finished products. YEREVAN, February 6. /ARKA/. Armenian Economy Minister Vahan Kerobyan today called for introducing a duty on exports of metal semi-finished products. "The ...
02/06/2024Economy Minister says investigation unlikely to reveal any violations in activities of detained deputy minister
Armenian Economy Minister Vahan Kerobyan expressed confidence today that the investigation will not reveal any violations in the activities of one of his deputies detained Wednesday. YEREVAN, February 1. /ARKA/. Armenian Economy Minister Vahan Kerobyan expressed confidence today ...
02/01/2024Seven Economy Ministry officials detained in corruption cases - Armenian Investigative Committee
... drams to the accounts of farmers involved in the creation of intensive orchards, who did not provide relevant documents and embezzled the funds. According to the IC, the detained official was in close relations with these persons. Economy Minister Vahan Kerobyan said on Wednesday he was not aware of the reasons for the search of his ministry by law enforcement officials. "Investigative agencies usually search state institutions in corruption cases," Kerobyan told reporters. "We attach ...
02/01/2024Corruption cases being investigated in Ministry of Economy of Armenia
... ministry. According to the minister, the investigative bodies can conduct actions in the state administration mainly in corruption cases. "I don't know who visited the ministry: employees of the National Security Service or some other agency," Kerobyan said. He was asked about the coincidence of two facts - Ispiryan's dismissal and the investigative actions it the Ministry. "In my opinion, it's a coincidence. Ani informed us 1.5 months ago that her husband got a job in the Netherlands ...
01/31/2024Residents of Armenia's six provinces barely feel GDP growth
... services, as well as cultural and leisure centers. He explained that a region is considered underdeveloped if there are problems in at least one of these areas. The Armenian government's forecast for economic growth in 2024 is 7%. Economy Minister Vahan Kerobyan said earlier that the country’s economy is expected to grow by 8.3-8.5% in 2023, and GDP per capita will amount to $8,280.--0-
01/29/2024WB: Armenia’s unemployment rate rose slightly in Q3 2023
... at 12 percent in Q3 2023, up from 11.6 percent in Q3 2022, due to a 2 percent increase in the labor force (net employed and unemployed, Labor force participation increased to 61.7 percent in Q3 2023 from 60.9 percent in Q3 2022 Economy Minister Vahan Kerobyan stated last December that the government’s goal is to cut the unemployment rate to below 10%. -0-
01/26/2024Armenian Economy Minister says poverty rate dropped in 2023
Armenian Economy Minister Vahan Kerobyan estimates that the poverty rate in the country in 2023 decreased compared to 2022. YEREVAN, January 25. /ARKA/. Armenian Economy Minister Vahan Kerobyan estimates that the poverty rate in the country in 2023 decreased compared to 2022....
01/25/2024PM Pashinyan and Economy Minister Kerobyan disagree on average monthly salary size
Armenian Prime Minister Nikol Pashinyan and Economy Minister Vahan Kerobyan disagreed today on the size of the average monthly salary in the country. YEREVAN,...
01/25/2024Armenian government adds 'digital' component to companies' economic modernization program
... modernize in order to increase their productivity. YEREVAN, January 25. /ARKA/. The Armenian government has added today a new component to a program developed to help companies modernize in order to increase their productivity. Economy Minister Vahan Kerobyan said that after the programs' inception a year and a half ago, about 3,500 companies have become its beneficiaries, upgrading their equipment, conveyors and factories for a total of AMD 207 billion (over $500 million). "At the moment, about ...
01/25/2024FDI in Armenia's economy in 2023 amounted to about $350 mln
Armenian Economy Minister Vahan Kerobyan said in an interview with Armenia's Public TV earlier this week that the volume of foreign direct investment (FDI) in 2023 amounted to about a quarter of gross investments. YEREVAN, January 24. /ARKA/. Armenian Economy Minister Vahan Kerobyan ...
01/24/2024Armenia condemns use of food security as a means to achieve political goals - minister
Armenia is deeply concerned about the development of the food security crisis in Europe and the Middle East, Economy Minister Vahan Kerobyan said. YEREVAN, January 24. /ARKA/. Armenia is deeply concerned about the development of the food security crisis in Europe and the Middle East, Economy Minister Vahan Kerobyan said. Speaking at the Global Forum for Food and Agriculture ...
01/24/2024UAE becomes largest foreign investor in Armenia's economy in 2023, leaving Russia behind- Kerobyan
The United Arab Emirates (UAE) was the largest source of foreign investment for Armenia in 2023, Economy Minister Vahan Kerobyan said. YEREVAN, January 23. /ARKA/. The United Arab Emirates (UAE) was the largest source of foreign investment for Armenia in 2023, Economy Minister Vahan Kerobyan said. "This change has happened for the first time as traditionally ...
01/23/2024Armenian government accepts donation of 12.5% of Lydian Armenia shares
... which the parties committed to invest about $150 million in the development of the Amulsar gold mine. According to the memorandum, the Armenian government was to receive 12.5% of the company's shares. After signing the memorandum, Economy Minister Vahan Kerobyan said that the exploitation of Amulsar mine will provide the state budget with annual revenues of 30-40 billion drams. Meanwhile, on December 14, Senior Executive Director of the Eurasian Development Bank Denis Ilyin said that the final decision ...
01/18/2024Armenian government to invest $37 mln in 'dry port' project in Gyumri
... Nikol Pashinyan chaired today a meeting of the Investment Committee that was convened to discuss construction of 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 ...
01/16/2024Largest data processing center built in Armenia by Rostelecom Armenia receives support as part of Infrastructure for Investment program
On January 12, 2024, "Infrastructure in Exchange for Investment" support event was held at the Armenian Ministry of Economy in the presence of Minister Vahan Kerobyan, during which the signing ceremony of compensation agreement was held. YEREVAN, January 15. /ARKA/.. On January 12, 2024, "Infrastructure in Exchange for Investment" support event was held at the Armenian Ministry of Economy in ...
01/15/2024Kerobyan names main challenges for Armenia's economy in 2024
Economy Minister Vahan Kerobyan listed today the main challenges Armenia's economy may face in 2024. YEREVAN, January 9. /ARKA/. Economy Minister Vahan Kerobyan listed today the main challenges Armenia's economy may face in 2024. "There are risks from geopolitical ...
01/09/2024Record number of foreign tourists visited Armenia in 2023
... Armenia. At the same time, Poghosyan clarified that tourists are those who stay in Armenia for more than 24 hours but less than one year. She was asked whether a foreign tourist spends on average $1,200 in Armenia, as claimed by Economy Minister Vahan Kerobyan. Poghosyan replied that the minister had announced the data for the first half of the year, while data for the whole year will be available soon. -0-
01/09/2024Export or re-export of polished diamonds: discrepancy in figures
... million carats of polished diamonds were exported from Armenia. At the same time, according to the National Statistical Committee, 141 thousand carats of diamonds were processed in the country. Neither the deputy minister nor economy minister Vahan Kerobyan had any answer to this, saying that these figures need to be verified. -0-
01/09/2024Investments in Armenia's economy in 2023 total $1.4 bln. - deputy economy minister
... metallurgy. In particular, four new plants were opened, and two plants expanded their production capacity. The total volume of investments in this area reached $270mln and about one thousand new jobs were created. On Monday, Minister of Economy Vahan Kerobyan said that the gross volume of investments in the first half of 2023 increased by 17.5% yoy. At the same time, Kerobyan noted that the final data on the investment is available only for 2021, and the final data for 2022 will be available in April ...
01/09/2024Kerobyan admits there were problems at ANIF, but does not disclose details
Armenian Economy Minister Vahan Kerobyan admitted on Monday that there were problems at the Armenian National Interest Fund (ANIF), but did not disclose details. YEREVAN, January 9. /ARKA/. Armenian Economy Minister Vahan Kerobyan admitted on Monday that there were problems at the ...
01/09/2024Armenia intends to diversify exports, but Russia still main trade partner - Kerobyan
Armenian government is working to diversify exports, but Russia still remains its main trade partner, although the latter’s share in Armenia’s total trade turnover has slightly dropped, Economy Minister Vahan Kerobyan said on Monday. YEREVAN, January 9. /ARKA/. Armenian government is working to diversify exports, but Russia still remains its main trade partner, although the latter’s share in Armenia’s total trade turnover has slightly dropped, Economy ...
01/09/2024Armenia's economy to grow by 8.3-8.5% in 2023 - Kerobyan
Armenia's economy is expected to grow by 8.3-8.5% in 2023, and GDP per capita will amount to $8280, Economy Minister Vahan Kerobyan said on Monday. YEREVAN, January 8. /ARKA/. Armenia's economy is expected to grow by 8.3-8.5% in 2023, and GDP per capita will amount to $8280, Economy Minister Vahan Kerobyan said on Monday. He also said that the gross volume of investments ...
01/08/2024Armenia’s trade turnover in 2023 expected to make about 111% of GDP
The ratio of Armenia’s trade turnover to its GDP in 2023 is expected to reach 110.9%, Economy Minister Vahan Kerobyan said at a press conference on Monday. YEREVAN, January 8. /ARKA/. The ratio of Armenia’s trade turnover to its GDP in 2023 is expected to reach 110.9%, Economy Minister Vahan Kerobyan said at a press conference on Monday. He noted that ...
01/08/2024Economy Minister replaces top managers of Armenia's National Interest Fund
... termination of powers of the CEO of the Armenian National Interest Fund (ANIF) Davit Papazyan and some members of ANIF Board of Directors is the initiative of the Ministry of Economy, ANIF said today.. By the decision of the Minister of Economy Vahan Kerobyan Dominique de Villepin, Chairman of the ANIF Board of Directors, was replaced by Ani Ispiryan. Dominique de Villepin, former Prime Minister and Minister of Interior of France, has been a member of the ANIF Board of Directors since its establishment....
01/08/2024Deputy minister of economy elected head of board of directors of ANIF
... (ANIF), the press service of the Ministry of Economy reported. The powers of the former chairperson of the Board Tigran Avinian (now Yerevan Mayor) were terminated ahead of schedule on November 13, 2023, according to the order of Economy Minister Vahan Kerobyan. According to another decision, ANIF's balance sheet and income statement for 2022 were not approved because "the consolidated financial statements for the reporting period do not accurately reflect the financial position of the company ...
12/25/2023Armenia expects record 110% commodity turnover to GDP ratio– minister
Armenia's total commodity turnover in 2023 will make a record 110% of GDP, Economy Minister Vahan Kerobyan said during the presentation of the ministry's 2023 performance report. YEREVAN, December 22. /ARKA/. Armenia's total commodity turnover in 2023 will make a record 110% of GDP, Economy Minister Vahan Kerobyan said during the presentation ...
12/22/2023Armenian government aims to reduce unemployment rate to below 10% - Kerobyan
The Armenian government aims to reduce the unemployment rate in Armenia to below 10%, Minister of Economy Vahan Kerobyan said today. YEREVAN, December 22. /ARKA/. The Armenian government aims to reduce the unemployment rate in Armenia to below 10%, Minister of Economy Vahan Kerobyan said today. According to official statistics, the unemployment rate in the ...
12/22/2023Armenia to take part in Expo-2025: Osaka, Kansai, Japan
.... /ARKA/. Armenia will take part in the EXPO-2025: Osaka, Kansai, Japan with a pavilion, showcasing the country’s achievements in high tech industry, its food, drinks, tourist attractions and modern educational institutions. Economy Minister Vahan Kerobyan said about 28 million people are expected to visit the expo that will run from April 13 to October 13, 2025. According to him, Armenia will showcase TUMO, Armat, COAF technologies, other educational programs, which are also interesting for the ...
12/20/2023Normalization of Armenian-Azerbaijani relations and food security: Pashinyan held meeting of Security Council
... reported. It said in addition to the members of the SC, the President of the Republic Vahagn Khachaturyan, the President of the National Assembly Alen Simonyan, the Chief of Staff of the Prime Minister Arayik Harutyunyan, the Minister of Economy Vahan Kerobyan, the Chairman of the Standing Committee on Foreign Relations of the National Assembly Sargis Khandanyan, the head of the "Civil Contract" faction of the National Assembly Hayk Konjoryan participated in the session. During the session,...
12/20/2023Development of Amulsar gold mine to start in 2024 - deputy minister
... which the parties pledged to invest about $150 million in the development of the Amulsar gold mine. According to the memorandum, the Armenian government is to receive 12.5% of the company's shares. After signing the memorandum, Economy Minister Vahan Kerobyan stated that the operation of Amulsar mine would provide the government budget with annual revenues of 30-40 billion drams. Meanwhile, on December 14, Senior Executive Director of the Eurasian Development Bank Denis Ilyin said that the final decision ...
12/19/2023Russia's share in Armenia's total foreign trade drops slightly in 11 months – minister
Russia's share in Armenia's total foreign trade turnover has decreased in the first 11 months of 2023, Armenian Economy Minister Vahan Kerobyan said in an interview with the Public Television. YEREVAN, December 19. /ARKA/. Russia's share in Armenia's total foreign trade turnover has decreased in the first 11 months of 2023, Armenian Economy Minister Vahan Kerobyan said in an interview ...
12/19/2023Kerobyan: Armenia's economy has "subcutaneous fat"
According to Armenian Economy Minister Vahan Kerobyan, the country’s economy has what he described as ‘subcutaneous fat." YEREVAN, December 18. /ARKA/. According to Armenian Economy Minister Vahan Kerobyan, the country’s economy has what he described as ‘subcutaneous fat." ...
12/19/2023Armenia's trade turnover with EEU countries up 41% - Economy Minister
Armenia's trade turnover with Eurasian Economic Union (EEU) member countries has surged by 41%, Economy Minister Vahan Kerobyan said on Monday. YEREVAN, December 18. /ARKA/. Armenia's trade turnover with Eurasian Economic Union (EEU) member countries has surged by 41%, Economy Minister Vahan Kerobyan said on Monday. "We assume that this trend will continue into ...
12/18/2023Construction of Armenia's first aluminum radiator plant to kick off in January 2024 - minister
Construction of a plant for the production of aluminum radiators will open in Armenia in January 2024, Economy Minister Vahan Kerobyan said on Monday in response to MPs’ question. YEREVAN, December 18. /ARKA/. Construction of a plant for the production of aluminum radiators will open in Armenia in January 2024, Economy Minister Vahan Kerobyan said on Monday in response ...
12/18/2023Kerobyan presents priorities of Armenia's economic policy ito Canadian ambassador
Armenian Minister of Economy Vahan Kerobyan briefly presented the priorities of Armenia's economic policy at a meeting with Canadian Ambassador to Armenia Andrew Turner. YEREVAN, December 14. /ARKA/. Armenian Minister of Economy Vahan Kerobyan briefly presented the priorities of ...
12/14/2023Armenian government set to regulate tourism industry
About 2.2 million foreign tourists visited Armenia in the first 11 months of 2023, which is an absolute record for the country, Economy Minister Vahan Kerobyan said today. YEREVAN, December 8. /ARKA/. About 2.2 million foreign tourists visited Armenia in the first 11 months of 2023, which is an absolute record for the country, Economy Minister Vahan Kerobyan said today. Speaking at the parliamentary ...
12/08/2023About 2.2 million tourists visit Armenia in 11 months of 2023
... comparison 145,000 tourists visited the country in November 2022 and 140,000 in November 2019. Half of the tourists were from Russia (1.1 million), followed by Georgia (11%, or 231,000) and Iran (6%, or 139,000). Earlier, Minister of Economy Vahan Kerobyan said that according to approximate data, each tourist spends about $1200 in Armenia. He said also that in 2024 the Ministry of Economy plans to expand tourism infrastructure and create 20 tourism clusters. -0-
12/07/2023Minister: Armenian trucks with agricultural produces allowed to enter Russia through Upper Lars checkpoint
... control by Russian phytosanitary authorities. We initiated a set of discussions at several levels, including an operative meeting of the Eurasian Economic Committee, the executive arm of the Eurasian Economic Union (EEU), to solve the problems," Kerobyan said in the parliament. The minister noted that the movement of trucks through the Upper Lars checkpoint has been restored since last Saturday. "We are determined to make sure that the products produced in Armenia become high quality and meet high standards as soon as possible," he emphasized. According to Russia's agricultural ...
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