Wednesday, February 8 2017 18:01
Naira Badalian

Ministry of Economy of Armenia has submitted details of investment program for a total of $ 459 million

Ministry of Economy of Armenia has submitted details of investment program for a total of $ 459 million

ArmInfo. The press-service of the Ministry of Economic Development and Investments told ArmInfo, during 2017 implementation of investment programs totaling $ 459 million is expected, and creation of 5927 new jobs.

As the press-service of the Ministry reports, the Ministry examined the specific investment projects, and held discussions with the private sector on possible areas for support. As a result, it provides for the implementation of investment programs in the amount of $ 429 million in 2017, and is expected to create more than 5927 new jobs.  "The sources of funding for these programs are already clarified", - said the source.

In the field of light industry the implementation of 10 programs is planned, in which the investment will amount to $ 24.9 million, the number of jobs will be 2299. The sector of precision engineering will be invested $ 9.5 million, and created 142 jobs by the end of the implementation of 7 investment programs.  Five programs will start in the jewelry and the field of mining. The investment in jewelry sphere will amount $7 million, and will create 59 jobs, and in the mining industry will be invested $230.3 million, and created 1464 jobs. Four investment programs will be implemented in the areas of pharmaceuticals, energy and the production of beverages. The investment will amount to $5.5 million, $63.5 million and $12.6 million respectively, and will create 195, 75 and 215 jobs. Three investment programs are planned in the areas of food, agriculture and logistics, telecommunications and IT. The investment will amount to $4.5 mln, $60.1 million. $32 million, and, and will be created 440, 776 and 70 jobs. Two programs will be implemented in the production of non-metallic ores and metals. The total investment will amount to $ 5.5 million, 32 new jobs will be created as a result. It is noted that in Yerevan will be carried out 33 programs (investment-$ 143,270mln, jobs - 1823), in Syunik region - 5 (investment - $ 25.3million jobs-395), in Gegharkunik - two (investment - $2.69 million, jobs-54), in Lori - three (investment-$29.7 million, jobs- 324), in Tavush- three (investment-$3.33 million, jobs-900), in Kotayk-three (investment-$12.45 million, jobs-112), in Shirak -two (investment$5.7 million, jobs-330), in Armavir-two (investment-$7 million, jobs- 220), in Aragatsotn-one (investment -$9.7 million, jobs-144), in Ararat-two (investment-$20.7 million, jobs 525), in Vayoc Dzor-one (investment-$200 million, jobs-1100). The Ministry says that the work between investors and business is permanent process. Economy Ministry constantly receives applications from different companies about the possibilities of using instrumen state support for the implementation of new investments. "Currently, the applications of five companies are being considered for deferral of VAT payments. In the result of these programs, 200 new jobs will be created, and investments will amount at $11.8 million. It is also expected portfolio investments of about $100 million in Armenian companies", says the Ministry.

"The investors use the instruments of the state support, particularly the deferral of VAT payments on a three years term, in the case of import of equipment as part of investment programs they are being exempt from customs payments on the part of the raw materials and equipment in priority areas, and use available credits, provided by SME Investments and other instruments of financial support by the tools of state support, SME and export, leasing for ten years at 9%, and benefits for free economic zones", reports the Ministry.

POST A COMMENT
Input digits     


News
AraratBank underwrites FINCA UCO bondsAraratBank underwrites FINCA UCO bonds
Team NGN`s 25Gbps network is already available to 150,000 households  in ArmeniaTeam NGN`s 25Gbps network is already available to 150,000 households  in Armenia
Pashinyan: Armenia considers it important to form collective food  security system in EAEUPashinyan: Armenia considers it important to form collective food  security system in EAEU
Trade, services and construction continue to be main drivers of  double-digit growth in economic activity in ArmeniaTrade, services and construction continue to be main drivers of  double-digit growth in economic activity in Armenia
Armenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New YorkArmenian investment crowdfunding platform ARFI and ANIF to be  presented at Orion 2023 Summit in New York
Transavia Airlines to start Marseille-Yerevan-Marseille operating  flightsTransavia Airlines to start Marseille-Yerevan-Marseille operating  flights
Georgia refutes information about launch of shipment to NovorossiyskGeorgia refutes information about launch of shipment to Novorossiysk
Batumi-Novorossiysk ferry service put into operation Batumi-Novorossiysk ferry service put into operation 
Plant producing aluminum radiators to be put into operation in  ArmeniaPlant producing aluminum radiators to be put into operation in  Armenia
Vahan Kerobyan on Vahan Kerobyan on "impressive" indicators of FDI in Armenian economy
Yerevan brandy company could stop exports to RussiaYerevan brandy company could stop exports to Russia
Kaps reservoir construction project resumed in Armenia Kaps reservoir construction project resumed in Armenia 
CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization 
ANIF to invest EUR 3.9mln in Universal Closures company ANIF to invest EUR 3.9mln in Universal Closures company 
Germany to assist Armenia in strengthening local government systemGermany to assist Armenia in strengthening local government system
Fix Price announces entry into Armenia`s marketFix Price announces entry into Armenia`s market
Presentation of ROBBO company held in Armenia Presentation of ROBBO company held in Armenia 
EBRD improves its GDP growth forecast for Armenia EBRD improves its GDP growth forecast for Armenia 
FLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-YerevanFLYONE ARMENIA started operating flights on the route Yerevan-Larnaca-Yerevan
Armenian Diaspora of United States is ready to invest in  technological development of ArmeniaArmenian Diaspora of United States is ready to invest in  technological development of Armenia
CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023CBA Forecast: Inflation in Armenia to reach target level of 4% from  H2 2023
Foreigners` transactions on buying and selling property  reduced in  ArmeniaForeigners` transactions on buying and selling property  reduced in  Armenia
In Yerevan, real estate market activity is declining, but prices  continue to riseIn Yerevan, real estate market activity is declining, but prices  continue to rise
RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia RA citizens` perception of EU has changed dramatically. Pashinyan The  reputation of the European Union has significantly improved after the  Union decided to send an observation mission to Armenia 
Bright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sectorBright future for solar energy in Armenia - Expert on measures to  ensure sustainable development and true independence of  energy  sector
EDB discusses and implements number of energy projects in Armenia -  Head of BankEDB discusses and implements number of energy projects in Armenia -  Head of Bank
EDB is ready to support Amulsar mine development project - PodguzovEDB is ready to support Amulsar mine development project - Podguzov
Armenian-Czech business forum held in Prague Armenian-Czech business forum held in Prague 
Armenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEWArmenia`s Finance Ministry delegation participates in experience  exchange events  organized by ICAEW
EAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with IranEAEU expects to significantly increase volume of trade in mid term by  signing of FTZ establishment agreement with Iran
Union of Banks of Armenia presented awards to employees of ArmInfo  for their professional activities in covering financial and banking  sectorUnion of Banks of Armenia presented awards to employees of ArmInfo  for their professional activities in covering financial and banking  sector
CBA Deputy Governor singles out three key factors ensuring growth of  Armenia`s economy last yearCBA Deputy Governor singles out three key factors ensuring growth of  Armenia`s economy last year
Armenia`s state treasury revenues from leasing of state property  increased by 67.7% in 2022Armenia`s state treasury revenues from leasing of state property  increased by 67.7% in 2022
WB to issue 92.3mln Euro loan to Armenia for supporting country`s  budgetWB to issue 92.3mln Euro loan to Armenia for supporting country`s  budget
Iranian company to construct modern checkpoint in Armenia`s MeghriIranian company to construct modern checkpoint in Armenia`s Meghri
Environment Ministry, KfW sign agreement for implementation of EUR 26  million program Environment Ministry, KfW sign agreement for implementation of EUR 26  million program 
43 young people graduated from joint training programme organized by GITC and HSBC Armenia43 young people graduated from joint training programme organized by GITC and HSBC Armenia
Armenian, Lebanese ministers of economy discuss development of  economic ties  Armenian, Lebanese ministers of economy discuss development of  economic ties  
Minister of Economy: Relocation impact on Armenia`s economic growth  is estimated at one thirdMinister of Economy: Relocation impact on Armenia`s economic growth  is estimated at one third
AMD 3,389,788 for the project to reveal the professional potential of war participants. The next beneficiary of AMD 3,389,788 for the project to reveal the professional potential of war participants. The next beneficiary of "The Power of One Dram" is the "Path of Life" NGO
After 12-year break, airBaltic resumes flights on Riga-Yerevan-Riga  routeAfter 12-year break, airBaltic resumes flights on Riga-Yerevan-Riga  route
PSRC announced results of tender for license to launch 5G networks in  ArmeniaPSRC announced results of tender for license to launch 5G networks in  Armenia
FlyOne Armenia plane makes emergency landing in IranFlyOne Armenia plane makes emergency landing in Iran
Specific debt burden per capita in Armenia continues to grow rapidly,  approaching $4.000Specific debt burden per capita in Armenia continues to grow rapidly,  approaching $4.000
Armenian interagency group to deal with multimodal high-speed route  and operator activities in Chabahar PortArmenian interagency group to deal with multimodal high-speed route  and operator activities in Chabahar Port
$250mln investments in Amulsar nothing but a bubble - Environmental  Front$250mln investments in Amulsar nothing but a bubble - Environmental  Front
Armenia`s economic activity continues to grow at double-digit paceArmenia`s economic activity continues to grow at double-digit pace
Rocket Line digital credit with longer termRocket Line digital credit with longer term
Ardshinbank warns about the facts of fraudArdshinbank warns about the facts of fraud
Inflation began to decline more noticeably in ArmeniaInflation began to decline more noticeably in Armenia
Feeling of insecurity among majority of Armenia`s population may  affect country`s economic development- EconomistFeeling of insecurity among majority of Armenia`s population may  affect country`s economic development- Economist
GIZ and KfW to open offices in YerevanGIZ and KfW to open offices in Yerevan
RA Premier: New checkpoint to be built in Meghri with EU assistance RA Premier: New checkpoint to be built in Meghri with EU assistance 
Gnel Sanosyan: For many years, tariffs for connection to Electric  Networks of Armenia were far from realisticGnel Sanosyan: For many years, tariffs for connection to Electric  Networks of Armenia were far from realistic
Armenia`s gross international reserves decreased by 9.4% in Q1 2023Armenia`s gross international reserves decreased by 9.4% in Q1 2023
Armenia`s budget revenues 20% up in Jan-Apr, 2023Armenia`s budget revenues 20% up in Jan-Apr, 2023
CBA: Monetary policy scenario envisages rapid decline in inflation  below target of 4% in near futureCBA: Monetary policy scenario envisages rapid decline in inflation  below target of 4% in near future
Martin Galstyan: Even in negative scenario, Armenia`s banking system  is able to absorb possible losses, while maintaining continuity of  financial intermediationMartin Galstyan: Even in negative scenario, Armenia`s banking system  is able to absorb possible losses, while maintaining continuity of  financial intermediation
CBA Head: Final victory has not yet been won in fight against  inflationCBA Head: Final victory has not yet been won in fight against  inflation
Pashinyan, Likhachev discuss construction of new nuclear power unit  in ArmeniaPashinyan, Likhachev discuss construction of new nuclear power unit  in Armenia
Read more


Exchange rates
26.05.2023
RUB4.830.00
USD386.520.12
EUR415.240.90
GBP478.400.81
CAD284.060.03
JPY27.65-0.03
CNY54.62-0.17
CHF427.951.46