ArmInfo. The Universal Clocks company is investing 2.8 billion drams in expanding the production of mineral water. The decision on exempting the company from paying customs duties for importing equipment and raw materials into Armenia was made at the sitting of the RA government on October 18.
According to the Acting Minister of Economic Development and Investments of Armenia Tigran Khachatryan, an enterprise located in the Kotayk region of Armenia, started its activities six months ago. Currently 5-6 employees work at it. After the expansion of the company, the number of staff will increase to 27 people, whose average salary will be 240 thousand drams. Of the declared volume of investments, 1.7 billion drams will be deductions for the purchase and delivery of new equipment to the country. The company's products are intended to be supplied both to the domestic market and exported to the Russian Federation and Georgia.
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