ArmInfo. Armenian company "A & M RARE" intends to direct 115 million drams to expand its own production. The Government of Armenia at its meeting on March 14 approved the company's application for a three-year exemption from VAT payments for the import of equipment and raw materials.
Presenting the draft decision, Deputy Minister of Economic Development and Investments of the Republic of Armenia Avag Avanesyan noted that the company, founded in 2010, is engaged in the production of glass bottles and containers.
As of today, the company has already invested 1.7 billion drams. The new investment program is aimed at increasing production and creating new jobs. The need for expansion is also due to the fact that glass containers, necessary for the supply of products to foreign markets, are currently lacking. For example, according to this indicator, Armenia lags behind Georgia by 9-10 times. With the implementation of the investment program will be able to produce up to 40 million bottles per year. It is planned to create an additional 140 jobs with an average salary of 420 thousand drams.
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