Tuesday, August 6, 2024
reading time: 2 minutes
On August 5, Armenian Economy Minister Gevorg Baboyan held discussions with representatives of Bridged Company regarding the future of medical tourism in the country.
The press service of the Ministry of Economy highlighted Bridged as an online platform dedicated to establishing Armenia as a leading medical tourism destination, which could boost economic development.
At the meeting, they discussed how to position Armenia in the medical tourism market and the potential benefits it could bring to the local economy. Bridged representatives outlined their goals, platform features, planned activities and expected results.
Transforming Communications: OVIO Unveils Largest Data Center in Armenia as Digital Ecosystem Expands
On Monday, August 5, Armenia’s Minister of High-Tech Industry Mkhitar Hayrapetyan and Deputy Minister Gevorg Melekstyan visited OVIO, formerly known as “GNC-Alpha”. This visit marked an important milestone in the progress of the country’s technology sector.
OVIO, which was rebranded in May 2024, represents the evolution from a traditional telecom operator to a comprehensive technology company. CEO Hayk Varamazian toured the upgraded facilities, highlighting the significant infrastructure improvements.
One of the highlights of the visit was the unveiling of the new data center, which was inaugurated in May 2024. This center is the largest and first of its kind in Armenia, featuring advanced international technology.
Varamazian highlighted Ovio’s transformation from traditional telecom services to a comprehensive digital ecosystem. The company now offers a diverse range of services, including high-speed internet, smart TV, fixed telephony, and various cloud computing solutions.
The visit also included discussions on current issues and challenges facing the telecommunications industry. Minister Hayrapetyan stressed that the ministry is actively working to address these concerns and implement necessary measures.
Metal Industry in Armenia: Highs and Lows in the First Half of 2024
Armenia’s Metal Industry: A Challenging Journey in the First Half of 2024
The Statistical Committee of Armenia has published production data for the metallurgical industry for the first six months of 2024, presenting a mixed picture of the sector’s performance.
The production of copper concentrates, the cornerstone of Armenia’s mining industry, has registered significant growth. In January-June 2024, production amounted to 144.6 thousand tons, which is 15% more than in the same period last year.
Most surprising was the rise in zinc concentrate production, which rose by 20.8% to 5.3 thousand tons.
But not all sectors of the industry saw positive trends. Molybdenum concentrate production fell by 25.2% to 7.9 thousand tons. Fermolybdenum production experienced an even sharper decline, falling by 49.2% to just 2.2 thousand tons.
In the steel pipe production sector, the production of steel pipes increased by 26% to 10.9 thousand tons. In contrast, the production of aluminum foil decreased by 28.1% to 9.8 thousand tons.
The importance of the mining sector to the Armenian economy cannot be overstated, contributing significantly to the country’s export earnings and tax income. This is evident in the latest figures from the Armenian State Revenue Committee.
In the first half of 2024, Zangezur Copper-Molybdenum Combine (ZCMC) emerged as the largest taxpayer among the country’s top 1,000 taxpayers. The company paid 64 billion drams in taxes to the state budget, equivalent to more than 164 million US dollars, representing an 84% increase in tax payments compared to the first half of 2023.
