ArmInfo. The Minister of Economic Development and Investments of Armenia Suren Karayan believes that an investment boom has begun in Armenia. This, in his opinion, is not a hindrance, even the electoral processes, Suren Karayan told reporters after the government session on February 23. According to the minister, the evidence of the beginning investment boom is also today's meeting of the Government which aproved eight investment projects. According to the results, tax and customs privileges are provided to the eight companies in various fields, ranging from the field of energy, innovative technologies of solar cell production, wine and tobacco industry, horticulture, to apiculture, pharmaceuticals. 7 billion AMD is expected to invest, which will create 350 new jobs. "In three of the eight presented investment projects the state will provide benefits on payment of customs duties, in four - privileges on VAT payment delay line for a period of three years, and one company will receive the status of the operator of the Free Economic Zone" Alliance", explained Karayan. Projects have also rich geography as their implementation is planned in Yerevan, Aragatsotn, Shirak, Syunik regions, he said.
To note, the level of direct foreign investments in the Armenian economy in the past 2016 dropped to $90 million, being reduced annually in the last 5 years from 40 to 50%. Meanwhile, the Ministry of Economy of the state recently submitted a program under which in 2017, the implementation of investment programs totaling $ 495 million that will create about 6 thousand new jobs is expected in the state. At the same time, the government addressed the living abroad and rich representatives of the Armenian Diaspora to increase their investments in the Armenian economy.
