Armenia and Georgia have agreed to expand trade to $1 billion in the coming years, Prime Minister Nikol Pashinyan told a joint press conference with his Georgian counterpart Mamuka Bakhtadze. Pashinyan said the two parties needed to have a roadmap to “move towards that goal and accomplish the task”. Trade between Armenia and Georgia amounted…
Papa John’s Pizza, Baskin Robbins and Domino’s Pizza are eager to enter the Armenian market, according to a press release from the U.S. embassy in Armenia. The Embassy and the U.S. Commercial Service in Moscow, in partnership with IDBank, organized a one-day conference focused on franchise business opportunities. The event is part of an ongoing…
General Electric will spend EUR 18.8 million on a project designed to upgrade the Yerevan Thermal Power Plant, the Ministry of Energy Infrastructures and Natural Resources of Armenia said. According to the ministry, the modernization activities are aimed at increasing the efficiency and reliability of the plant. The modernization includes renovation of the gas turbine…
The production of vodka declined by 45% YoY in January-May. According to information provided by the National Statistical Service, that of whiskey has also decreased (-43%). The production of brandy and champagne was down by 10% and 5%, respectively. Meanwhile, more liquor, wine and beer were produced in the first five months of 2018. (PanARMENIAN/Business…
Passenger traffic in the two Armenian airports grew by 10.4% YoY in January-April, the general department of civil aviation reveals. Overall, 737,861 people used the services of Zvartnots airport in the capital city, Yerevan, and Shirak airport in the northern city of Gyumri. In April alone 212,782 people used the services of the two Armenian…
Armenia’s nuclear energy production will grow by 10% under the service life extension and modernization program of the second power unit of the nuclear plant, minister of energy infrastructure and natural resources Ashot Manukyan declared on March 21. According to him, the capacity factors of electricity production are currently equally distributed in Armenia. “Nuclear energy,…
Armenia’s government debt decreased by 0.6% in February, official data reveals. According to information provided by the finance ministry, the country’s debt totaled $6.898 billion in January and dropped to $6.851 billion the next month. The foreign debt is down by 0.2% in the reporting period, decreasing from $4.963 billion in January to $4.950 in…