Republic of Armenia The country Location: Southern Caucasus Area: 29, 800 sq. km. Population: 3. 2 million (urban/rural – 64%/36%) Growth rate: 0. 5% Age % of population Up to 25 40% 25 -44 30% 45 -64 20% Capital: Yerevan (1 mil. ) Literacy: 99% HDI: 83 (out of 177) Socially unsecure pop. : 20% (7. 2% extremely poor) Armenia
Republic of Armenia The economy and social situation Armenia GDP 2008: $11. 8 /€ 9 billion GDP per capita: $3, 689/ € 2, 824 GDP growth: 7% in 2008 (12% average growth in 2003 -2007) Others Inflation: 5. 2% (2008) 10% Industry State budget: tripled since 2003 13% Services Unemployment: 6. 3% 34% External debt/GDP: 16. 4% Agriculture 16% Export ($ million) (45% in 2000) External trade: € 4. 1 billion (23. 5% increase over 2006) Constr. 27% 700 2003 742 2004 987 1, 046 2005 2006 1, 224 2007
Republic of Armenia Investments in the country FDI $mln Comp. s with foreign capital FDI by sectors 1337 Armenia 605 230 2003 2449 2006 3347 2007 3700 Tourism Food Mining Telecom Rankings Index of economic freedom – 28 (44 in 2004) Ease of doing business - 39
Republic of Armenia Why to invest o o o o Armenia MFN regime with 150 countries (WTO full membership) FTA regime with CIS (tariff free access to 250 m. market) GSP regime with EU, USA, Canada, Japan Cost Effective and Qualified Work Force No Restrictions on Foreign Investor Ownership All Exports from Armenia are Duty Free The Import Tariff Rates - 0/10 % Where to invest Ø Agriculture/business Ø Pharmaceutical Ø Tourism Ø Information Technology
Republic of Armenia Agriculture and food processing Armenia ü Fast growing sector with large export potential - Average annual growth of output (2005 -2007) – 13% - Total output for 2008 – € 1. 3 billion (anim. /plant 33%/67%) - Export volume doubled during 2004 -2007 ($400 mln) ü High potential for producing ecologically safe products ü Emerging “Armenian brand” of agricultural products ü Largely available skillful labor force ü Competitive advantage of certain products in outside markets § Fragmented and small farms (340, 000 farms /100 enterprises) § Lack of “long” money
Republic of Armenia Agriculture and food processing Main products Major players Armenia ü Fresh vegs/fruits ü Ashtarak-Kat dairy ü Dried/packed vegs/fruits ü Biokat dairy ü Canned vegs/fruits ü Marianna dairy ü Cheese ü Lousakert poultry ü Eggs ü Arzni poultry ü Wine ü Meghri cannery ü Fish ü Artfood ü Ijevan wine
Republic of Armenia Agriculture and food processing Concrete opportunities for investments Company Specialization Investments needed Armenia Profitability (IRR) Meghry cannery Jam, preserves, syrup, bever. € 150, 000 for modernization 19% 5 years KHAQ ltd Full range of milk products € 60, 000 for increasing production volumes 21% 5 years Golden goat ltd. Cheese (8 types) € 65, 000 for new facil. and equipment 20% 5 years CHIR ltd. Dried vegs. /fruits € 150, 000 for new facil. packaging equipment 20% 5 years Ishkhan ltd. Jam and preserves € 280, 000 for new workshop 23% 5 years Project by Go. A – free economic zone in Zvartnots airport with full logistic center for export of agricultural products. Investment - $50 mln. Duration – 15 years. IRR – 22%
Republic of Armenia Tourism - 4. 7% of GDP of the country - $285 mln. of investments - 4, 200 hotel rooms - Competitiveness rank – 89 th (of 130) # of tourists (ths. )510 263 2004 318 2005 559 382 2006 2007 2008 Niches with highest potential: Eco-tourism, agro-tourism Armenia
Republic of Armenia Tourism Concrete opportunities for investments Company Specialization Investments needed Armenia Profitability (IRR) Lussi. Ma. Ltd Spa hotel in Arzni € 1 mln for reconstruction 22% 6 years TANMAR Ltd Resort center in Sevan (start up) € 2. 8 mln for const of the center 19% 7 years A special project by CARD Black OX ltd Training and agro-tourism center € 30, 000 for B&B and training center N/A
Republic of Armenia CONTACTS Armenia UNDP ARMENIA UN House, 14 P. Adamyan Street, Yerevan, 0010, RA Tel: (37410) 547268 Mob: (37491) 240104 Fax: (37410) 543811 e-mail: sevak. amalyan@undp. org URL: www. undp. am; Armenian Development Agency Address: 17 Charentsi, Yerevan, 375025 Armenia. Tel: (+374 10) 570410 Fax: (+374 10) 570710 E-mail: info@ada. am Website: www. ada. am
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