ArmInfo. On August 22, the Armenian government approved the investment program of three companies, the total budget of which will be 11.3 billion drams (about $ 22 million), providing them with a benefit in the form of exemption from import customs duties on imported technological equipment, their components and accessories, raw materials.
According to the Minister of Economy of Armenia Tigran Khachatryan, "AFA" LLC filed an application for the provision of tax benefits in order to organize the production of brake pads in Yerevan. According to the Minister, the organization is in the process of transferring production from the UAE to Yerevan. The investment program is estimated at 300 million drams. At the first stage of production, 20 jobs will be created within one year, another 35 during the second year, the average monthly salary will be 150 thousand drams. The annual volume of production will be 770 million drams, products for 200 million drams will be sold in Armenia, 530 million drams in the EAEU countries, the rest - in third countries.
The Lentex company, founded in 2001 and engaged in the production of knitwear, plans to create an additional 50-60 jobs as part of the current investment program (382 employees already work in the enterprise). The total volume of LLC products will reach 4.5 billion drams, 1.4 billion drams of which will be sold in the territory of the Republic of Armenia, the rest will go to the markets of the EAEU and third countries. According to the head of the Ministry of Economy, ProfAl LLC, which has been manufacturing aluminum structures, doors and windows since 2002, plans to invest 1 billion drams for the acquisition of equipment and the construction of production areas during the current investment program. Another 8.2 billion drams will be allocated for the purchase of raw materials. Today, 281 employees work in the enterprise, as part of the investment project, 50 more jobs will be created with an average monthly salary of 280 thousand drams. The planned volume of output will be 20 billion drams: products worth 12 billion drams will be sold in the RA, the rest - in the EAEU and third countries.