Even though Armenia is the tiniest country in the Caucasus region, with about 3 million people, it catches attention because of its growing economy. When you look into why this is happening, you'll find creative entrepreneurs, smart researchers, scientists, and a strong community spirit.
Armenia, recognized as the swiftest developing nation in Eastern Europe and Central Asia according to the World Bank, presents a highly promising investment destination. With an escalating pace of economic growth projected for the upcoming years, the country offers lucrative opportunities for investors.
Armenia’s business environment evolves at an exciting pace regardless of or due to external factors. And even though the ecosystem is quite developed and fully compliant with the latest digital transformations, it is sometimes challenging to find...
The construction of new apartment buildings, which have significantly increased in previous years, was mainly carried out by private organizations, and the activity of the sphere is connected by specialists with the well-known income tax return law.
Тhe hi-tech industry is the fastest growing economic industry in Armenia. Last year, the turnover of Armenian tech/IT companies increased to ~$ 400 million, or by 20 percent. In 2020, also the number of employees in this industry increase by 22%
Official statistics states – there are 68 500 small and medium-size businesses currently operating in Armenia, and their number has not increased compared to last year mainly because of the COVID-19 pandemic impact
Tower International Consultants CJSC is one of the few financial service advisory companies which has continued to operate under Covid-19 and the recent political situation in the RA thus making its small investment in the economy.
The current year registered an unprecedented rise of online payments, because of many reasons, including the global healthcare situation: it is predicted to have 1 billion people using mobile payment apps worldwide at the end of the year and 1.31 billion by 2023!
From January 2020 Armenian switched to a flat income tax rate that sets income tax at 23% for each RA citizen regardless of their income size and will continue to decrease to 20% by 2023
The last 7-month world is living in a state of an emergency, and the banking industry is not an exception. Banks’ performance on the debt market and equity is at the same level as during Lehman Brothers’ collapse in 2008. During the starting phase businesses and borrowers started to lose income, jobs and sales, facing...
Advantages of production business in Armenia Located in western Asia, Armenia exported US$2.6 billion worth of products around the globe in 2019. With the highest GDP rate in all Europe (7.6% GDP growth and GDP CAGR to 2020 is 3.2% for Armenia vs. CAGR of 2.7% for global GDP), economic reforms, and “open door” policy,...
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