Mon, 9 June
28.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Investments of AMD 964 million attracted under small and medium business investments CJSC’s programs

YEREVAN, October 14. /ARKA/. Armenian Economy Minister Tigran Davtyan, speaking Friday at the First Global Armagroforum, said investments totaling AMD 964 million had been attracted under Small and Medium Business Investments CJSC’s programs.

“The government takes consistent steps to spur development of small and mid-scale businesses,” he said. “Small and Medium Business Investments credit organization was established in 2009 to support small and medium businesses. AMD 964 million has been invested since then.”

According to ARKA News Agency’s data, the organization’s assets totaled AMD 2.8 billion in late June 2011 and liabilities AMD 1.5 billion. Its capital amounted to AMD 1.3 billion. The organization’s net profit for the first half of this year amounts to AMD 154 million.

Davtyan also said that investment programs worth 7 billion have been implemented thanks to the funds attracted from banks and those worth AMD 14 billion were implemented thanks to the funds allocated by the government.

He said that agriculture has always been among Armenian economy’s most important sectors and the government pays special attention to it.

The minister said that this year agriculture started growing.

In his words, the economy ministry now concentrates efforts on creating a free economic zone in Zvartnots Airport. Davtyan said that this zone would give Armenia wider room for export.

“A strategy of detection and development of Armenia’s export capacity, including agriculture, is being worked out now,” he said.

The First Global Armagroforum is being held in Yerevan as part of celebration of the 20th anniversary of Armenia’s independence. It will last until October 16.

Some 1,000 representatives of agriculture sectors from Armenia and outside are taking part in the event. Of them, 700 represent farms and processing enterprises from Armenia’s provinces.

Some 40 farmers from Russia, Ukraine, Georgia, Lebanon, Iran, Poland, Latvia, the United States and France are attending the forum. A delegation from Nagorno-Karabakh Republic came here as well. ($1 = AMD 379.23) -0-

spot_img

POPULAR

Dollar and ruble exchange rates against Armenian dram rose, while euro fell

The average market exchange rate of the US dollar to the Armenian dram, as of April 2, 2025, rose by 0.06 points compared to April 1, reaching 391.16 drams.

US dollar slightly down  against dram

The average market exchange rate of the U.S. dollar to the Armenian dram on May 7, 2025, decreased by 0.18 points compared to May 6 and amounted to 389.28 drams.

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

Central Bank leaves refinancing rate unchanged taking into account high uncertainty in US economic policy

The Central Bank of Armenia decided today to leave the refinancing rate unchanged at 6.75% taking into account a set of factors such as  the continued high uncertainty surrounding the US economic policy, declining confidence in the global economy, growth slowdown and  a possible  weakening demand in Armenia, the head of the regulator Martin Galstyan said at a press conference on Tuesday.

Armenia’s public debt increased by 4.4% to 5.3 trillion drams – Finance Minister

Armenia's public debt as of March 31 is 5.3 trillion drams, an increase of 4.4% compared to December 31 last year, and 5.8% in dollar terms, said Finance Minister Vahe Hovhannisyan.

LATEST NEWS

spot_imgspot_imgspot_img