Investment Projects, Business Armenia Haypost Public-Private Partnership | Page 4

Need for Reform
The dependence of HayPost on public services is described in terms of the following 2
services.
1. Postal services
 Revenues and volumes of postal services are mainly directed by state institutions
(election-notices, referendum, court, traffic police, etc.)
 Low-level engagement in the most competitive and profitable market segments, such as
express and messenger communication
 Limited volumes of e-commerce and door-to-door delivery services
 The postal business is predominantly focused on the segments of traditional services
 Postal services are accompanied by low productivity; each postal office generates about
13,000 AMD per day
2. Financial services
 The predominant portion of financial services income is generated through the services
provided by state institutions, such as payments of pensions and social benefits
 The number of annual transactions of pensions and social benefits delivery reduced by
20% from 2011-2016; the relative stability of income was maintained due to increase of
amounts of pensions and social benefits
 The engagement in the most competitive and profitable segments of the market, such as
money transfers, is less than 1%
 Each postal office generates 13,000 AMD per day from financial services
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