Author: Chmshkian Vicken

All five people on Titan sub presumed dead after ‘catastrophic implosion’

Chmshkian Vicken

 09:58,

YEREVAN, JUNE 23, ARMENPRESS. The US Coast Guard says that a debris field located in the North Atlantic suggests that a submersible missing since Sunday, with five passengers on board, suffered a “catastrophic implosion,” the BBC reports.

The vessel, which had limited oxygen supplies, went missing deep under the ocean on Sunday after setting off to explore the wreck of the Titanic.

It prompted a massive five-day search and rescue operation led by US, Canadian and French agencies.

On Thursday evening, the Coast Guard said it had located five major pieces of the Titan amid debris around the Titanic site, which it said was “consistent with catastrophic loss of the pressure chamber”.

The agency offered its condolences to the families of the victims and said it could not confirm if their bodies would ever be recovered.

Ahead of its press conference, OceanGate – the company that operates the tours – released a statement saying it believed all five passengers on board “have sadly been lost”.

“Our hearts are with these five souls and every member of their families during this tragic time,” the company said. “We grieve the loss of life and joy they brought to everyone they knew.”

The five people on board were:

Hamish Harding, a 58-year-old British businessman and explorer

Shahzada Dawood, 48-also a British businessman -and his son, Suleman Dawood, 19

Paul-Henry Nargeolet, a 77-year-old French explorer nicknamed “Mr Titanic”

Stockton Rush, 61, is the chief executive of OceanGate, the firm behind the dive

The find completes a five-day search across nations which spanned more than 20,000 sq km of ocean.

54 US Representatives call on Biden Administration to end military aid to Azerbaijan

Chmshkian Vicken
 ANCA ANCA News 0

A bipartisan group of 54 US Representatives, led by Rep. Barbara Lee (D-CA) called on the Biden Administration to enforce Section 907 restrictions on US aid to Azerbaijan.

WASHINGTON, DC – A bipartisan group of 54 US Representatives, led by Rep. Barbara Lee (D-CA), demanded the Biden Administration stop all military assistance to Azerbaijan and urged a stronger US response to Azerbaijan’s ongoing blockade and aggression against Artsakh’s 120,000 indigenous Armenian Christian population, reported the Armenian National Committee of America (ANCA).

“We would like to thank Rep. Barbara Lee and the bipartisan group of US Representatives from across the US for taking a powerful stand against the Biden-Harris Administration’s appeasement of Azerbaijan’s ongoing anti-Armenian aggression,” stated ANCA executive director Aram Hamparian.  “US military assistance to Azerbaijan emboldens the corrupt Aliyev regime to continue to its brutal Artsakh blockade, strangling Artsakh’s Christian population.”

Joining Rep. Lee in co-signing the Congressional letter are Representatives: Jake Auchincloss (D-MA), Don Beyer (D-VA), Gus Bilirakis (R-FL), Greg Casar (D-TX), Joaquín Castro (D-TX), Judy Chu (D-CA), Jim Costa (D-CA), Nanette Diaz Barragan (D-CA), Lloyd Doggett (D-TX), Anna Eshoo (D-CA), Adriano Espaillat (D-NY), Jesus Garcia (D-IL), Robert Garcia (D-CA), Josh Gottheimer (D-NJ), Josh Harder (D-CA), Brian Higgins (D-NY), Val Hoyle (D-OR), Ro Khanna (D-CA), Raja Krishnamoorthi (D-IL), Susie Lee (D-NV), Ted Lieu (D-CA), Zoe Lofgren (D-CA), Stephen Lynch (D-MA), Seth Magaziner (D-RI), Nicole Malliotakis (R-NY), James McGovern (D-MA), Rob Menendez (D-NJ), Grace Meng (D-NY), Kevin Mullin (D-CA), Grace Napolitano (D-CA), Eleanor Holmes Norton (D-DC), Ilhan Omar (D-MN), Frank Pallone (D-NJ), Chris Pappas (D-NH), Katie Porter (D-CA), Mike Quigley (D-IL), Jamie Raskin (D-MD), C.A. Dutch Ruppersberger (D-MD), Linda Sanchez (D-CA), John Sarbanes (D-MD), Janice Schakowsky (D-IL), Adam Schiff (D-CA), Brad Schneider (D-IL), Brad Sherman (D-CA), Christopher Smith (R-NJ), Haley Stevens (D-MI), Eric Swalwell (D-CA), Dina Titus (D-NV), Rashida Tlaib (D-MI), Lori Trahan (D-MA), David Trone (D-MD), David Valadao (R-CA), and Bonnie Watson Coleman (D-NJ).

In the Congressional letter sent to Secretary of State Antony Blinken today, an initiative strongly supported by the ANCA, US lawmakers noted, “Azerbaijan’s behavior has undoubtedly been emboldened by the impunity it has been afforded since the 2020 Nagorno-Karabakh War – during which Azerbaijani forces perpetrated horrific human rights abuses including the ongoing detention and torture of Armenian prisoners of war, and the deliberate targeting of homes, schools, churches and medical facilities with prohibited weapons.”

The US Representatives went on to caution, “Azerbaijan’s prolonged blockade of Nagorno-Karabakh and its continued occupation of Armenian sovereign territory not only threatens to jeopardize tenuous conflict resolution efforts, but gravely endangers the security and welfare of Nagorno-Karabakh’s Armenian population.”

The US Representatives urged the Biden Administration to cut all military assistance to Azerbaijan by enforcing Section 907 of the FREEDOM Support Act. “In the context of this ongoing blockade and President Aliyev’s continuing threats, extending the Presidential waiver of Section 907 of the FREEDOM Support Act would send a dangerous message to Azerbaijan’s government – that there will be no repercussions for its attempts to impose its will on the Armenians of Nagorno-Karabakh by intimidation, starvation and deadly force,” stated lawmakers.

The Biden Administration is currently deciding whether to reauthorize of the Presidential waiver of Section 907 of the FREEDOM Support Act.  Enacted in 1992, the law establishes statutory restrictions on US assistance to the government of Azerbaijan “until the President determines, and so reports to the Congress, that the Government of Azerbaijan is taking demonstrable steps to cease all blockades and other offensive uses of force against Armenia and Nagorno-Karabakh.” Congress included a Section 907 waiver in the FY2002 Foreign Operations, Export Financing, and Related Programs Appropriations Act.

The Section 907 waiver and subsequent extensions require a number of certifications, including that granting the waiver “will not undermine or hamper ongoing efforts to negotiate a peaceful settlement between Armenia and Azerbaijan or be used for offensive purposes against Armenia.” A US Government Accountability Office (GAO) report, issued in 2022, revealed that the State Department consistently failed to inform Congress of the impact of over $164 million in assistance to Baku on the military balance between Azerbaijan and Armenia.

US presidents – Republican and Democrat – have waived Section 907 annually since 2001, including President Biden, who, as a candidate, called on the Trump Administration to enforce Azerbaijan sanctions and apply the measure.

ANCA Summer fellows visited with over 400 Congressional offices urging them to co-sign the Lee letter to cut all military aid to Azerbaijan.

The Congressional letter also expressed “dismay” at the State Department’s reticence to forcefully reject President Aliyev’s recent threats against Artsakh’s authorities. “President Aliyev’s May 28 threat is an affront to our democratic and humanitarian values, and is even more shocking coming from a nation that receives generous U.S. military assistance,” stated the lawmakers.

Over the past week, over 50,000 pro-Artsakh advocates used the ANCA’s advocacy platform to urge their US Representatives to co-sign Rep. Lee’s letter to cut all military aid to Azerbaijan.  ANCA Leo Sarkisian, Maral Melkonian, and Hovig Apo Saghdejian Capital Gateway Program Summer fellows met with Congressional staff from over 400 offices to share the latest information about Azerbaijan’s brutal Artsakh blockade and ongoing anti-Armenian aggression. Their nationwide call to action is available here.

The full text of the Congressional letter to Secretary Blinken is provided below and available here.

#####

Text of Congressional Letter to Secretary Blinken Urging the Biden Administration to Cut all Military Aid to Azerbaijan

The Honorable Antony Blinken
Secretary of State
Department of State
2201 C Street NW
Washington, DC 20500

Dear Secretary Blinken:

We write to express our concern at the deteriorating humanitarian situation caused by Azerbaijan’s extended blockade of the Lachin Corridor, especially amidst ongoing peace talks that could greatly impact the lives of Armenians living in Nagorno-Karabakh (Artsakh). We urge the Administration to cease further military assistance to Azerbaijan pursuant to Section 907 of the FREEDOM Support Act while this blockade remains in effect and President Aliyev continues to use human rights abuses for his negotiating purposes.

As you know, since December 12, 2022, Azerbaijan has enforced a blockade along the Lachin Corridor – preventing the transport of food, fuel, medicine and other essential goods to Nagorno Karabakh’s 120,000 Armenians. As a result, the population is facing critical shortages of basic necessities – with gas and electricity also routinely interrupted.

In recent weeks, Azerbaijan has tightened its blockade by establishing a military checkpoint on the corridor – a major escalation that was rightly criticized in a statement by the State Department. Since the imposition of this checkpoint, Azerbaijan has interrupted the ICRC’s ability to deliver vital humanitarian supplies, and transport patients in critical condition to the Republic of Armenia for treatment.

Azerbaijan’s blockade is both a violation of international humanitarian law and of the November 9th agreement that put an end to active hostilities between Armenia and Azerbaijan in 2020. It also stands in opposition to calls from this administration – as well as international entities including the International Court of Justice – to ensure the free flow of commercial traffic along the Lachin Corridor.

Amid ongoing peace talks that have regularly been held by the U.S. and our allies, Azerbaijan’s prolonged blockade of Nagorno-Karabakh and its continued occupation of Armenian sovereign territory not only threatens to jeopardize tenuous conflict resolution efforts, but gravely endangers the security and welfare of Nagorno-Karabakh’s Armenian population.

Azerbaijan’s behavior has undoubtedly been emboldened by the impunity it has been afforded since the 2020 Nagorno-Karabakh War – during which Azerbaijani forces perpetrated horrific human rights abuses including the ongoing detention and torture of Armenian prisoners of war, and the deliberate targeting of homes, schools, churches and medical facilities with prohibited weapons. These abuses have been widely documented by international human rights organizations, as well as the State Department in its most recent Bureau of Democracy, Human Rights and Labor report into Azerbaijan’s human rights practices.

On May 28, Azerbaijan’s President Aliyev made new threats against Republic of Artsakh authorities: “Either they [Artsakh] will bend their necks and come themselves or things will develop differently now. If I say that amnesty can be an option, they should not miss this opportunity. They have missed many opportunities, a number of opportunities, and each time, as they say, we had to knock them over to bring them to their senses.”

We are dismayed to learn that the State Department has not more forcefully rejected this rhetoric, especially ahead of reported further peace discussions in Washington, D.C. President Aliyev’s May 28 threat is an affront to our democratic and humanitarian values, and is even more shocking coming from a nation that receives generous U.S. military assistance.

In the context of this ongoing blockade and President Aliyev’s continuing threats, extending the Presidential waiver of Section 907 of the FREEDOM Support Act would send a dangerous message to Azerbaijan’s government – that there will be no repercussions for its attempts to impose its will on the Armenians of Nagorno-Karabakh by intimidation, starvation and deadly force.

We have disagreed with this administration’s decision to waive Section 907 of the FREEDOM Support Act even in the wake of Azerbaijan’s assault on Nagorno-Karabakh in 2020. Last year, the U.S. Government Accountability Office determined successive administrations had failed to meet statutory reporting requirements as to the impact of providing security assistance to Azerbaijan. This is despite a recent declassified finding by the Office of the Director of National Intelligence that found Azerbaijan was the “country most likely to renew large-scale conflict in an effort to consolidate and expand the gains it won in its 2020 military action against Armenia over the disputed territory of Nagorno Karabakh.”

As long as Azerbaijan’s blockade of Nagorno-Karabakh is in effect, we should not be sending security assistance to Azerbaijan. Doing so would only encourage and enable Azerbaijan’s aggression, and further set back the prospects of a durable peace that ensures the fundamental rights of the Armenians of Nagorno-Karabakh.

As such, as we approach the reauthorization window for the Presidential waiver of Section 907 of the FREEDOM Support Act, we urge the administration to enforce restrictions on military assistance to the country.

We welcome the opportunity to discuss this matter further, and look forward to your timely response.

Sincerely,

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The Armenian National Committee of America (ANCA) is the largest and most influential Armenian-American grassroots organization. Working in coordination with a network of offices, chapters and supporters throughout the United States and affiliated organizations around the world, the ANCA actively advances the concerns of the Armenian American community on a broad range of issues.


[Press] From U.S. Embassy – Governor of Kansas Laura Kelly and Brigadier General Michael Venerdi Visit Armenia

Chmshkian Vicken 
NEWS RELEASE:
Kansas Governor Laura Kelly and Brigadier General Michael Venerdy are visiting 
Armenia:
c. Yerevan, June 21, 2023 - The US Embassy in Armenia on June 22-23 in Yerevan 
will host Laura Kelly, the governor of the state of Kansas, USA. The purpose of the governor's visit 
It is the celebration of the 20th anniversary of cooperation between Armenia and Kansas 
Further strengthening of ties between the state of Kansas and Armenia. Governor Kelly is accompanied by US Brigadier General Michael Wenerdy of Kansas 
He is visiting for the first time since assuming the post of National Guard commander 
Armenia. I will meet Governor Kelly and Brigadier General Venerd, the RA Prime Minister and others 
high-ranking officials, particularly of defense, internal affairs, 
with the ministers of education and economy. They will also visit the 12th Peacekeeper 
brigade, Military Hospital, Defense National Research University, 
Military University and National Agrarian University of Armenia. The partnership program between the state of Kansas and the Republic of Armenia has begun 
In 2003, between Armenia, the US State of Kansas and the US Department of Defense 
by signing the cooperation agreement. Ծրագրի շրջանակում Կանզասի Ազգային 
գվարդիան սերտորեն գործակցել է ՀՀ պաշտպանության նախարարության և այլ պետական 
կառույցների հետ՝ կյանքի  կոչելով համատեղ նախաձեռնություններ՝ զինվորական 
ուսուցում, արտակարգ իրավիճակների պատրաստություն, ինչպես նաև փոխանակումներ 
իրավապահ, բիզնեսի, բժշկական, հանրային առողջապահության, կրթության ոլորտներում։ ###
Governor of Kansas Laura Kelly and Brigadier General Michael Venerdi Visit 
Armenia
Yerevan, Armenia –  – U.S. Embassy Yerevan welcomes Governor of 
Kansas Laura Kelly to Armenia June 22-23, 2023. The Governor’s visit will 
celebrate the 20th anniversary of the Kansas-Armenia State Partnership, and 
strengthen ties between the State of Kansas and Armenia. Governor Kelly is joined by U.S. Brigadier General Michael Venerdi on his first 
visit to Yerevan since being appointed as Adjutant General for the State of 
Kansas. Governor Kelly and Brigadier General Venerdi will meet with the Prime Minister 
and senior officials from the Armenian government, including the Minister of 
Defense, Minister of Internal Affairs, Minister for Education, and Minister of 
Economy. They will also visit the 12th Peacekeeping Brigade, the Military 
Hospital, the National Defense Research University, Military University, and the 
Armenia National Agrarian University. In 2003, the Republic of Armenia signed an agreement with the State of Kansas 
and the U.S. Department of Defense to establish the Kansas-Armenia State 
Partnership Program. Under the program, the Kansas National Guard has worked 
closely with the Armenian Ministry of Defense, and other governmental agencies 
on joint initiatives including military training, emergency preparedness, law 
enforcement, business, medical, public health, educational and humanitarian 
exchanges.



Press Release.doc


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Gov.-Laura-Kelly-2023.jpg

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George Soros hands control of empire to son Alex

Chmshkian Vicken

 14:09,

YEREVAN, JUNE 12, ARMENPRESS. Billionaire financier George Soros is handing control of his massive empire to his son Alexander, Reuters reported citing a Soros spokesperson.

The spokesperson confirmed the details from an interview with Soros published in The Wall Street Journal on Sunday.

A hedge fund manager turned philanthropist and major backer of liberal causes, Soros, 92, said he previously didn’t want his Open Society Foundations (OSF) to be taken over by one of his five children.

But speaking of his decision to turn over the foundation and the rest of his $25 billion empire to his 37-year-old son, who goes by Alex, the elder Soros said: “He’s earned it.”

Also interviewed by the newspaper, Alex said he’s “more political” than his father and that he plans to continue donating family money to left-leaning U.S. political candidates.

He told the Journal that he would broaden the foundation’s priorities to include voting and abortion rights as well as gender equity.

The OSF board elected Alex as its chairman in December, and Alex now directs political activity as president of Soros’ political action committee.

The Evolution of Internet Connectivity in Armenia

Chmshkian Vicken
TIAN SHAN NET
June 8 2023

Armenia, a small country located in the South Caucasus region, has seen a significant evolution in its internet connectivity over the past few decades. From its early days of dial-up connections to the current widespread availability of high-speed internet, Armenia has come a long way in terms of its internet infrastructure.

The first internet connection in Armenia was established in 1993, just two years after the country gained independence from the Soviet Union. At that time, internet connectivity was limited to a few universities and research institutions. The connection was slow and unreliable, with dial-up connections being the only option available.

However, with the passage of time, the internet infrastructure in Armenia began to improve. In the early 2000s, the government of Armenia started investing in the development of the country’s internet infrastructure. The government’s efforts paid off, and by the mid-2000s, Armenia had a reliable and fast internet connection.

One of the major milestones in the evolution of internet connectivity in Armenia was the introduction of broadband internet in the country. In 2004, the first broadband internet connection was established in Armenia, which provided users with faster and more reliable internet access. This development was a game-changer for the country, as it allowed more people to access the internet and use it for various purposes.

Over the years, the availability of high-speed internet in Armenia has continued to improve. Today, most households in the country have access to broadband internet, and the internet penetration rate in Armenia is around 50%. This means that half of the country’s population has access to the internet, which is a significant achievement considering the country’s size and population.

The availability of high-speed internet in Armenia has had a significant impact on the country’s economy and society. It has opened up new opportunities for businesses and entrepreneurs, allowing them to reach a wider audience and expand their operations. It has also made it easier for people to access information and stay connected with friends and family, both within the country and abroad.

In recent years, the government of Armenia has taken steps to further improve the country’s internet infrastructure. In 2019, the government launched a program to provide high-speed internet to all households in the country. The program aims to ensure that every household in Armenia has access to reliable and fast internet, regardless of their location or income level.

Despite the progress made in the evolution of internet connectivity in Armenia, there are still some challenges that need to be addressed. One of the main challenges is the high cost of internet services in the country. The cost of internet services in Armenia is relatively high compared to other countries in the region, which makes it difficult for some people to afford.

Another challenge is the lack of internet access in some rural areas of the country. While the government’s program to provide high-speed internet to all households is a step in the right direction, there are still some areas that are not covered by the program. This means that some people in rural areas still do not have access to reliable and fast internet.

In conclusion, the evolution of internet connectivity in Armenia has been a remarkable journey. From its early days of dial-up connections to the current widespread availability of high-speed internet, Armenia has come a long way in terms of its internet infrastructure. While there are still some challenges that need to be addressed, the progress made so far is a testament to the government’s commitment to improving the country’s internet infrastructure. With continued investment and development, Armenia’s internet connectivity is poised to become even better in the years to come.

https://aboutxinjiang.com/internet-in-armenia/

The CSTO countries intend to increase the number of joint exercises

Chmshkian Vicken

 17:51, 8 June 2023

YEREVAN, JUNE 8, ARMENPRESS. The Secretaries of the Security Councils of the member states of the Collective Security Treaty Organization (CSTO) discussed security challenges and threats in the region at the meeting held in Minsk, ARMENPRESS reports, citing TASS.

“Directions of cooperation in the military and migration spheres, as well as in the information space, were outlined. The importance of increasing the number of CSTO military exercises at different levels”, the press service of the Security Council of the Russian Federation announced after the meeting.

The representatives of the CSTO countries paid special attention to the joint fight against international terrorism and extremism, strengthening the anti-terrorist potential of the organization. The Security Council of the Russian Federation noted that tasks were set to block the ways of recruiting citizens and traveling to different places to participate in terrorist activities.

“Taking into account the increase in terrorism threat in the immediate vicinity of CSTO’s zones of responsibility, decisions were made regarding the implementation of a complex of operational and preventive measures,” the press service added.

Turkey’s lira plunges 7.6% to record low

Chmshkian Vicken

 11:08, 8 June 2023

YEREVAN, JUNE 8, ARMENPRESS. Turkey’s lira plunged 7.6% to a record low on Wednesday in its biggest selloff since the historic 2021 crash, Reuters reports.

Traders called it a “strong signal” that Ankara is moving away from state controls toward a freely traded currency.

The lira was trading at 23.2300 against the dollar at 1739 GMT, after touching a record low of 23.2620, bringing losses this year to nearly 20%. Turkish media then reported that the lira was trading at 23,31.




Blinken phones Turkey’s new FM, Armenia normalization discussed – Anadolu

Chmshkian Vicken

 11:31, 8 June 2023

YEREVAN, JUNE 8, ARMENPRESS. United States Secretary of State Antony Blinken and Turkey’s new foreign minister Hakan Fidan have discussed, among other issues, the normalization processes of Armenia with Turkey and Azerbaijan during a phone call.

US Secretary of State Antony Blinken phoned Hakan Fidan on Thursday to congratulate him on his appointment, Turkish Anadolu state news agency reported citing anonymous sources.

Fidan and Blinken discussed Sweden’s bid to join NATO, Armenia-Turkey and Armenia-Azerbaijan normalization processes, F-16 purchase and modernization, and the Ukrainian grain deal, Anadolu reported citing the Turkish sources who spoke on condition of anonymity due to restrictions on speaking to media.

Amanda Freitag, star of the American cooking TV show Chopped visited Yeremyan Academy

Chmshkian Vicken

 12:47, 8 June 2023

YEREVAN, JUNE 8, ARMENPRESS. Amanda Freitag, a famous American chef, and star of the Chopped cooking TV show, visited to Armenia on June 1-6 as part of the joint initiative of the Culinary Diplomacy Project and the US Embassy. The Diplomacy Project aimed to promote a sustainable food value chain and culinary entrepreneurship. On June 2, during her visit, the famous chef was hosted by the Academy of Culinary Arts and Hospitality of Yeremyan Projects and shared her experience and skills with the students.

Armenia’s appeal as a gastronomic hub and the uniqueness of Armenian cuisine and products sparked Freitag’s interest, which served as key motivations for her visit to the country.

“Passing on the knowledge and experience I’ve gained from my teachers is important to me. That’s why I’m here in Armenia, to share my expertise globally. I’m captivated by the operations of this new culinary academy and the cooking practices here. The fresh, simple Armenian food and bread-baking culture have really impressed me. Local dishes are incredibly delicious. I believe New York needs a restaurant showcasing Armenian cuisine,” stated Amanda Freitag.

Freitag had a meeting with Davit Yeremyan, the Founder of Yeremyan Projects. She got an in-depth look at the Academy’s state-of-the-art classrooms, kitchen facilities, and educational offerings. Yeremyan, acknowledging the importance of such ventures, stressed that the Academy was founded to foster knowledgeable ambassadors for Armenian cuisine—one of the world’s oldest.

“We founded the Academy in 2019 having a vision to educate a new generation of chefs who could rise to international standards. In pursuit of this goal, we carried out extensive research into global practices, carefully considering various factors before selecting the British model. Our educational programs bear the certification of Activate Learning Group, City of Oxford College, UK. Our alumni are not just competitive in the domestic market, but also make their mark in international spheres. Alongside their culinary education, students enhance their proficiency in English, apply their learning in practical environments, and seize numerous training opportunities actively.”

Davit Yeremyan noted that the institution had 1500 graduates in the last four years. Some graduates work in different countries, including the USA and Europe. Twenty percent of the graduates work in the restaurants of Yeremyan Projects.

Amanda Freitag organized a competition for the future chefs of Armenia studying at Yeremyan Academy, following the format of the renowned American cooking show Chopped. Amanda gave the contestants baskets of food with mystery ingredients, challenging them to prepare an appetizer, main course, and dessert using the basket’s contents. She was very impressed by the enthusiasm and creative approaches of the participants.

Along with Amanda Freitag Karen Khachatryan, the head of the “Culinary Art” educational programs of the Academy of Culinary Arts and Hospitality of Yeremyan Projects, the chef of Renommée restaurant, evaluated the teams’ work. The participants were awarded certificates.

The meeting with the world-famous chef and the chance to get her professional advice was a unique experience for the students of the Academy. They were very enthusiastic about that experience, so they spared no effort to show all their skills and creative potential.

A series of cooking demonstrations, master classes, and workshops with Armenian chefs and food entrepreneurs were carried out as part of Armenian visit of the famous American chef Amanda Freitag.

$1 billion of foreign investments in Armenia: PR ploy or real growth?

Chmshkian Vicken
May 30 2023
  • JAMnews
  • Yerevan

“For the first time in the history of Armenia, the volume of foreign direct investment amounted to about $1 billion, which is 5.13 percent of our GDP, ” Economy Minister Vahan Kerobyan said, commenting on last year’s figures.

He also talked about the need for multilateral and diversified economic relations with different countries. He said that in the near future Armenia will appoint trade representatives in China, Germany and the United States.

Economist Atom Margaryan regarded the minister’s announcement of direct investment as manipulation, which experts will not take seriously. Talking about the possible appointment of trade representatives, the expert recalled that in the embassies “there were and still are those holding similar positions, so there is nothing new in this.”

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Vahan Kerobyan stated:

“In terms of foreign direct investment-GDP, the government planned to reach 6 percent, and in terms of investment-GDP, 25 percent.”

According to interim data, the second figure is already 21.7%, and since the final data are usually “significantly higher than the intermediate”, the minister believes that the government managed to “get close enough to the target”.

Kerobyan says that if the investment-to-GDP ratio reaches 25 percent, it will mean that the transition from consumption-based economic growth to investment-based growth has been achieved.

According to Kerobyan, the goal of this undertaking is to increase trade with China, Germany and the United States. He said that now Armenia has trade representatives in Iran and the World Trade Organization. The Minister explained the importance of this step by the example of Iran — a trade representative was appointed two years ago, and trade has doubled during this time.

Talking about future plans, he stated that the Armenian government intends to diversify trade and economic areas, work more with the Arab, European and American markets.

Economy Minister Vahan Kerobyan maintains any such activity was an isolated incident

Economist Atom Margaryan says the figures announced by the minister will surprise no one. In contrast, he recalled that the dollar has depreciated, the dram has strengthened, and inflation has recorded an “unprecedented jump”. Margaryan asks how many jobs have been added with a billion investments and in which industries:

“Yes, it is possible that the treasury received money from the mining industry, casinos, offshore companies and Russian capital, escaping in the pockets of deserters from the Russian Federation. But the question arises: which high-tech industries have strengthened, expanded and, most importantly, created added value and increased prosperity?”

According to Margaryan, the announcement is just a PR move.

“It seems to the government that the more the numbers are inflated, the easier it will be for people to forget what is happening at the borders, what is happening in Artsakh. Have them present, in order, what high-yielding jobs have been created and in what area, the entities receiving or making these investments, and what trajectory they have created.”

Margaryan warns that there are investments that could be dangerous for the country and gives the example of the mining industry and the environmental consequences of its activities. “Non-positive” investments also include investments in the gaming business. To solve current problems, he speaks of the need for investment in the military industry.

Margaryan notes that in the case of the declared volumes of investments, the country’s public debt is illogical:

“If so much money came from private sources, then why did our country’s public debt increase by 1 billion every year and today it is about 11 billion? It would be nice if high-ranking officials explained this paradox.”

Commenting on the intention to appoint trade representatives of Armenia in China, Germany and the United States, Margaryan says that the public administration system is already excessively inflated and it is not worth increasing jobs in this way:

“These are also budgetary expenses – several people with families, from young to old, will have a good time in these countries.“

https://jam-news.net/foreign-investments-in-armenia/