Suren Karayan: 21.5 billion AMD will be invested in the production of brandy, wine and light industry

ArmInfo. "Obviously, economic  activity has been observed in the last period, we hope that it will  continue in the future," he said during a briefing for journalists.  Minister of Economic Development and Investments of Armenia Suren  Karayan.

According to the acting Minister, Armenian government on April 12 at  the first meeting behind closed doors approved 3 investment programs,  providing for investments of 21.5 billion AMD and creation of 475 new  jobs.

Investment projects will be implemented in the production of cognac,  wine and light industry.  In particular, OOO "Aniteks" granted a  delay of 3 years for the payment of VAT on imported goods. As part of  the investment program, the company plans to manufacture textiles in  the city of Artashat. For the purchase of raw materials and  materials, the company will send about 8.6 billion drams. Based on  the results of the program, 200 jobs will be created with an average  monthly salary of 189 thousand drams for 2018-2020.

"ABC Si Textile" LLC also received a similar tax benefit from the  Armenian government. The company, within the framework of the  investment program, plans in the city of Artashat to establish the  production of textile products. The cost of necessary raw materials  and materials will make 8.2 billion AMD, as a result 175 workplaces  with an average salary of 189 thousand AMD for 2018-2020 will be  created.

The Armenian government also approved the application of Ararat Wine  Factory LLC on exemption from import customs duty on imported  technological equipment, their components and components, raw  materials and materials.

According to Suren Karayan, the government has gone to simplify the  procedures for approving investment programs. As a result, the  minister noted that during the year the number of applications from  the private sector to receive tax benefits increased three-fold. As  Karayan pointed out, investments come not only from external sources,  but also from the domestic market.

On the eve of the governmental hour in the National Assembly of  Armenia acting. Minister of Economic Development and Investments of  Armenia Suren Karayan stated that in 2017, thanks to investments in  the amount of $ 495 million, 5,700 jobs were created. "In this case,  we are talking about those investment projects that received  additional preferences from the state. I also note that these  investment projects in 2017 were to provide the creation of 7,500  jobs, but only 5,700 places were created," Karayan said. At the same  time, he noted that the total volume of investments in the Armenian  economy in 2017 was $ 835 million.