Tourism Is A Sphere Having Prospects In Armenia, Businessman Mikhail


Noyan Tapan
Jul 27, 2007

YEREVAN, JULY 27, NOYAN TAPAN. Tourism can be considered a
sphere having prospects in Armenia, therefore, it is expedient
to make investments in the very sphere. Businessman Mikhail
Baghdasarov expressed such an opinion during his July 27 meeting
with journalists. According to him, prices for services are high in
Armenia and quality of services is low. Therefore, in M. Baghdasarov’s
opinion, training centers should be founded for retraining of hotels’,
restaurants’ employees.

According to M. Baghdasarov, joint-stock companies should be created
in order to liquidate the monopolies in Armenian economy, and their
shares should be sold through an exchange.

In the opinion of American Armenian businessman Vahagn Hovnanian,
monopoly is very important for a country to become fully fledged,
but it should be liquidated after several years. As he evaluated,
there are considerable changes in that respect in Armenia.

Both businessmen stressed that the decline of dollar’s exchange rate
against the dram has had a negative impact on their business. In
V. Hovnanian’s words, currently prices for apartments in Yerevan are
higher than in the U.S. In his opinion, this is a temporary phenomenon
and will be solved soon.

M. Baghdasarov said that the dollar’s exchange rate should not fall
so much, and the Central Bank of Armenia should undertake some steps
in this direction.

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