ArmInfo. The Armenian government is establishing a new operating procedure for duty-free shops. The decision was made on November 21 at a regular meeting of the Cabinet  of Ministers. 

ArmInfo. Thanks to the "Energy Efficient Regions" project, the energy consumption of public buildings in Armenia has decreased by 40%. This was announced during  an expert consultation by Karen Asatryan, Director of the "Energy  Saving and Renewable Energy Fund of Armenia" of the MTUI of Armenia.

ArmInfo. Armenia and Cuba are considering the possibility of signing a cooperation agreement in the field of tourism. This was announced during a meeting between the  head of the Tourism Committee Lusine Gevorgyan and the Ambassador of  Cuba to Armenia Oscar Santana Leon.

ArmInfo. Armenian Airlines will start operating flights on the Yerevan- Tbilisi-Yerevan route. This  was reported by the press service of the Zvartnots International  Airport.

ArmInfo. "The current construction serves as a preliminary training for future ambitious, intricate and challenging  projects," stated Yeghiazar Vardanyan, the head of the Urban Development Committee, during his address at the congress of the Union of Builders of Armenia today.

ArmInfo.Ameriabank will participate in the EngageArmenia2024 Forum, scheduled for November 23, 2024, in Dubai. The forum provides a dynamic platform to explore opportunities for Diaspora Armenians, featuring engagement sessions, interactive breakout discussions, and networking opportunities.

ArmInfo.The International Chamber of Commerce is planning to open a branch in Kazakhstan. This  was reported to an ArmInfo correspondent by Hayk Margaryan, a member of the Board of Directors of the Armenian representative office of the International Chamber of Commerce (ICC) and the head of the  Commission on Investments and Trade

ArmInfo. A meeting was held at the Ministry of Economy with representatives from pharmaceutical companies, chaired by Gevorg Papoyan, the head of the economic  department.  The parties talked about the possibility of growing the  industry, the state policies in place for the pharmaceutical sector,  and the measures to enhance and diversify the investment environment.   Both sides stressed the importance of boosting the visibility of  Armenian pharmaceutical products in global markets and expanding  production to meet international needs.

ArmInfo. Entrepreneurs from Tula are looking to increase their presence in the Armenian market and explore opportunities for expanding their activities in the  region.  This was announced during the business mission of  entrepreneurs from Tula to Armenia, which began on November 19 and  will continue until November 21.  During the meeting at the Trade  Mission of the Russian Federation in Armenia, it was highlighted that  there are great prospects for long-term cooperation in the field of  production and the supplying food products to the retail chains in  Armenia.

ArmInfo.Armenia's GDP for the first 9 months of 2024 exceeded 6.9 trillion drams or $17.7 billion, showing a 12.8% year-on-year increase. This growth rate is similar to  the previous year, when a slowdown from 21% to 12% was observed. This  is evidenced by the data from the RA Statistical Committee, released  on November 20, presenting the GDP at market prices.  The GDP  dynamics for the year showed a negative trend only in the first  quarter with a decline of 36.1%.  This was followed by a positive  growth of 16.1% in the second quarter and a further acceleration to  25.6% in the third quarter. This pattern mirrored the quarterly  dynamics of 2023, where a 36.3% decline in the first quarter was  followed by a growth of 16.5% in the second quarter and a further  acceleration to 27.2% in the third quarter. 

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ArmInfo.The World Bank (WB) is considering new opportunities for cooperation with Armenia in the high technology sector. This became known following a meeting  between Armenia's Deputy Minister of High-Tech Industry Ruben  Simonyan, and a WB delegation led by Cecile Niang, the Practice  Manager of the Finance, Competition and Investments Department). In  particular, she noted that new cooperation opportunities will be  presented in the shortest possible time, with a focus on the research  and development (R&D) sector.  The Deputy Minister, in turn,  presented the guests with programs aimed at developing the technology  sector and fostering economic growth. He also spoke about the goal of  transforming Armenia into a regional technology hub.

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ArmInfo.The Greek airline "SKY Express" has launched flights on the Athens-Yerevan-Athens route. Flights from Athens International Airport to Zvartnots  International Airport are operated three times a week: on Wednesdays,  Fridays and Sundays. 

ArmInfo. Deputy Minister of Finance of Armenia Arman Poghosyan explained what solutions are proposed for public organizations providing free consulting and legal  assistance within the framework of new tax amendments.

ArmInfo. In Armenia, a business with a high level of documented expenses may even end up in the black as a result of the proposed tax amendments. This assurance was made  by Deputy Finance Minister Arman Poghosyan on November 19 at  parliamentary hearings on the package of bills on amendments and  additions to the RA Tax Code, concerning the transfer of certain  areas of professional activity to the value-added tax system.

ArmInfo. The future activities of the Rural Economic Development Fund of Armenia (FREDA) are uncertain. This information was shared by the press service of the Ministry of Economy, which referenced the outcomes of the Fund's Board of Trustees' meeting chaired by Armenia's Minister of Economy Gevorg Papoyan.  

ArmInfo. At a press conference held on September 23, Idram announced the opening of its QR infrastructure. On the same day, it was revealed that Upay has joined the Open QR system. Now, Upay users can scan and pay using the Idram QR code available at more than 22,500 points of sale through their applications.

ArmInfo. The global division of the European Investment Bank (EIB Global) has signed a loan of up to 236 million euros to finance the construction of the Sisian- Kajaran road - a crucial segment of the North-South transport  corridor, as stated in the official statement of the European  Investment Bank.