Thursday, September 7 2017 14:57
Naira Badalian

The Armenian government postponed the payment of VAT for "Lidian Armenia" for three years, the amount of investments in Amulsar project amounted to $ 124 million

The Armenian government postponed the payment of VAT for "Lidian Armenia" for three years, the amount of investments in Amulsar project amounted to $ 124 million

ArmInfo. Investments of the managing company of Amulsar gold deposit of "Lidian Armenia" CJSC during 2017 already amounted to $ 124 million. Armenian government September 7 "Lidian Armenia" deferred the term of payment of value added tax from imported equipment for three years.

Minister of Economic Development and Investments of the Republic of Armenia Suren Karayan, presenting the draft decision, recalled that earlier - on April 20 this year. the Armenian Cabinet of Ministers for three years delayed the payment of value added tax on goods imported by CJSC Lidian Armenia from April 14, 2017 to December 31, 2018. According to Suren Karayan, given that the investment program of CJSC Lidian Armenia "is implemented in stages, there was a need to make certain adjustments to the earlier decision. "During the third stage, it is planned to import another batch of equipment, the cost of which instead of the early 22.4 billion drams will make 27.6 billion drams," he explained.

Recall that Lydian Armenia is a subsidiary of British Lydian International, whose shareholders are also large international institutional investors from the United States, Great Britain, a number of European countries, including IFC and EBRD. The Amulsar project is the largest industrial project in Armenia today to develop the Amulsar gold deposit with a total value of $ 370 million. In August 2016, a project for the construction and development of the field was launched. Preliminary work has been carried out since 2006.  The life of the Amulsar field will be 10 years and 4 months, an annual average of 200,000 ounces of gold (about 10 million tons of ore) will be produced. The company's shares are quoted on the Toronto Stock Exchange. Amulsar deposit is the second largest in Armenia.


News
Armenian, UAE  FMs discuss bilateral cooperation Armenian, UAE  FMs discuss bilateral cooperation 
Armenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration systemArmenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration system
According to UBA level of profitability of the Armenian banking  system is quite lowAccording to UBA level of profitability of the Armenian banking  system is quite low
$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan
Converse Bank bonds can now be purchased via the mobile applicationConverse Bank bonds can now be purchased via the mobile application
UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1
Seyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank depositsSeyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank deposits
UBA: Volumes of lending to the Armenian economy have grown in almost  all areasUBA: Volumes of lending to the Armenian economy have grown in almost  all areas
Team Telecom Armenia to start business data center construction Team Telecom Armenia to start business data center construction 
Discount system in cashless transactions for pensioners to be  introduced in Armenia Discount system in cashless transactions for pensioners to be  introduced in Armenia 
Armenia`s government to allocate  $10mln to road renovation Armenia`s government to allocate  $10mln to road renovation 
Passenger traffic in Armenia reached 40% growth in Q1Passenger traffic in Armenia reached 40% growth in Q1
Armenia, Iran simplify mutual access of investors to FEZ markets of  two countriesArmenia, Iran simplify mutual access of investors to FEZ markets of  two countries
Armenia`s communications sector revenue in Q1 2022 increased by 6.8%Armenia`s communications sector revenue in Q1 2022 increased by 6.8%
Armenia reduced wine production in Q1Armenia reduced wine production in Q1
Pashinyan receives Alexei Overchuk and Andrey RudenkoPashinyan receives Alexei Overchuk and Andrey Rudenko
Tourist flow to Armenia starts to recoverTourist flow to Armenia starts to recover
ARMSWISSBANK receives EBRD award ARMSWISSBANK receives EBRD award "The most Active Issuing Bank in Armenia for 2021"
Natural population decline was recorded in Armenia Natural population decline was recorded in Armenia 
Armenia`s population decreased by 2.3 thousand people by April 1,  2022Armenia`s population decreased by 2.3 thousand people by April 1,  2022
S&P Global Ratings assigns S&P Global Ratings assigns "B-" (Local Currency LT credit rating) to  ASCE Group
Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister 
Turkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar MehrabianTurkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar Mehrabian
Armenia, Iran to consider to increasing gas supplies from Iran to  ArmeniaArmenia, Iran to consider to increasing gas supplies from Iran to  Armenia
Hayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedientHayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedient
Armenia, Iran to sign memorandum to develop cooperation in number of  areasArmenia, Iran to sign memorandum to develop cooperation in number of  areas
Another intermediate subway station to be built in YerevanAnother intermediate subway station to be built in Yerevan
FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concludedFinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded
Armenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  businessArmenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  business
Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022
Armenia`s specific debt burden per capita has already reached $3.2  thousandArmenia`s specific debt burden per capita has already reached $3.2  thousand
Russia, China remain leaders in Armenia`s exports, imports Russia, China remain leaders in Armenia`s exports, imports 
Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University 
Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022
Electricity generation increased by 16.7% in Armenia in Q1 2022 Electricity generation increased by 16.7% in Armenia in Q1 2022 
Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 
About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant 
Metallurgical industry of Armenia reduced production volumes by 17%  in Q1 2022Metallurgical industry of Armenia reduced production volumes by 17%  in Q1 2022
Turkish aviation authorities closed their airspace to FLYONE ARMENIA  European destinationsTurkish aviation authorities closed their airspace to FLYONE ARMENIA  European destinations
In Q1 2022 more than 8 thousand tons of aluminum foil were produced  in ArmeniaIn Q1 2022 more than 8 thousand tons of aluminum foil were produced  in Armenia
Statistics: The production volumes of Armenia`s industry increased by  3.1% in Q1 2022 Statistics: The production volumes of Armenia`s industry increased by  3.1% in Q1 2022 
IBRD to grant a 22.6 mln euro loan to Armenia under education programIBRD to grant a 22.6 mln euro loan to Armenia under education program
Armenia`s trade turnover up by $1bln Jan 1 to Apr 20Armenia`s trade turnover up by $1bln Jan 1 to Apr 20
Armenia to expand circle of officials to be checked for legitimacy of  their propertyArmenia to expand circle of officials to be checked for legitimacy of  their property
From June 15, Armenia launches regular ferry service from Georgian  Poti to Russian Port of Kavkaz From June 15, Armenia launches regular ferry service from Georgian  Poti to Russian Port of Kavkaz 
On May 4, Armeconombank started primary placement of regular USD and  AMD bondsOn May 4, Armeconombank started primary placement of regular USD and  AMD bonds
"Rossgostrakh Armenia" IC holds lead in net insurance premiums
Armenian government prepares support measures for digital business  transformationArmenian government prepares support measures for digital business  transformation
Italian entrepreneurs intend to implement number of investment  projects in ArmeniaItalian entrepreneurs intend to implement number of investment  projects in Armenia
Finrating ArmInfo: Armenia`s insurance sector summed up Q1 2022 with  profit of $2.5 millionFinrating ArmInfo: Armenia`s insurance sector summed up Q1 2022 with  profit of $2.5 million
EU stands ready to continue assisting Armenian governmentEU stands ready to continue assisting Armenian government
AMD 10.757.867 to “My Forest Armenia” environmental organization: the next beneficiary of “The Power of One Dram” is the “Children of Armenia” Charitable FoundationAMD 10.757.867 to “My Forest Armenia” environmental organization: the next beneficiary of “The Power of One Dram” is the “Children of Armenia” Charitable Foundation
Presentation of Financial Statements will become mandatory only for  OJSCs of public interestPresentation of Financial Statements will become mandatory only for  OJSCs of public interest
Head of Central Bank: The composition of Armenia`s exports may changeHead of Central Bank: The composition of Armenia`s exports may change
Central Bank of Armenia records increase in absorptive capacity of  economyCentral Bank of Armenia records increase in absorptive capacity of  economy
Central Bank of Armenia: There is still high uncertainty in terms of  macroeconomic prospectsCentral Bank of Armenia: There is still high uncertainty in terms of  macroeconomic prospects
The volume of AraratBank bonds of the 22nd issue expires  The volume of AraratBank bonds of the 22nd issue expires  
Team Telecom Armenia completes rebranding process and switches to  active implementation of strategic programsTeam Telecom Armenia completes rebranding process and switches to  active implementation of strategic programs
Armenia`s Central Bank leaves refinancing rate unchanged - 9.25%Armenia`s Central Bank leaves refinancing rate unchanged - 9.25%
AMD 231.3bln tax revenues in April 2022AMD 231.3bln tax revenues in April 2022
Read more


Exchange rates
16.05.2022
RUB7.210.14
USD454.99-0.95
EUR474.781.10
GBP558.181.89
CAD352.101.38
JPY35.18-0.17
CNY67.04-0.11
CHF453.27-2.85