Eight simple steps to support Armenian economy


As presented one by one on http://www.here.am

Alright, here are 8 simple, I would say primitive ideas which I believe may contribute to Armenia’s further development.

1. Outsource 5 (five) judges from the EU, preferably from Scandinavian countries. The deployment, salaries and all miscellaneous expenses (such as translation) for those judges will be gladly compensated by the EU.

2. All products made in Armenia should have a compulsory marking “Made in Armenia” in English, by the demand of the law. China became what it is today by enforcing this law.

3. The biggest non-state , private sector Employer (not by taxes paid, but by the number of employees) should be allowed a 30 minutes speech to address the Parliament annually. I believe a businessman (or a group/entity) that employs the largest number of taxpayers in the country should feel the importance, gratitude and consideration from the state. And the state will also be interested to listen to the challenges and address those.

4. Tax-free the businesses based on the number of employees + the minimal salary paid. For example, if a business employs at least 50 people with a minimum salary of at least $900 for each employee per month, tax free the business (all taxes) for all operations it conducts. However, annual tax-free amount for importing goods for this enterprise is limited to $100,000. This import limit is put for not to create importing monsters, abusing the law and damping the economy. The tax free certificate is provided based on the conditions above by the Ministry of Economy and the period is monitored by the oppositional fractions in the Parliament.

5. Provide amnesty to the offshore capital, given it is transferred to the bank accounts in Armenia before 1 January 2017 and frozen on the accounts for at least 18 months afterwards. This will hugely reduce the banks’ interest rates for new credits and will allow economy to breathe.

6. Tax-free (all taxes) internationally patented know-how for 5 years, given the “country of origin” of any future products produced based on the know-how will be Armenia and the production will start within 3 months after the tax-free certificate is provided by the Ministry of Economy. The annual tax-free amount for importing goods for this enterprise is limited to $100,000. The tax free period is monitored by the oppositional fractions in the Parliament.

7. Give 500 sq.m. of fertile land for free from the state to all village/community residents who have at least 5 children of under 21 years of age. The land should be within 7 kilometers from the residence. Armenia has the land, but very few village families have 5 young kids.

8. All new construction projects in Yerevan (be it residential or business) should have at least 15% of green area. If not, those projects will not be approved by the state/municipality and will not start. The 15% portion is optimal, as it will not impact the prices, but will hugely contribute to the city’s overall image.

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