Armenian government granted privileges to companies with "actual"  production

ArmInfo. On November 21, the Armenian government approved the investment program of Newplast CJSC and Trade Export CJSC, providing companies with exemptions in the form of exemption from import customs duties on imported  technological equipment, their components and their components, raw  materials and materials.

Presenting the draft decision, the Deputy Minister of Economy Avag  Avanesyan informed that the investment program of "Newplast" CJSC is  aimed at creating the production of drip irrigation systems. The  company has been operating in Yerevan since 2006, 65 jobs have been  created. She has already invested in the production of about 3  billion drams. As part of the investment program, another 200 million  drams will be invested to purchase raw materials. "Newplast" filed an  application for imported goods in the amount of 935.4 million drams,  and the exemption from customs duties will be 63.7 million drams. The  planned volume of production will be 1 billion drams per year.

A similar benefit from the Armenian Cabinet was received by Trade  Export CJSC. The company has been operating since 2015, has 6  employees and plans to manufacture electronic meters. About 500  million drams will be invested in working capital within the  framework of the investment program, 50 new jobs with an average  monthly salary of 153 thousand drams will be created. The company  plans to import AMD 2.8 billion worth of goods. The privilege  concerns 285 million drams, as a result, the Armenian budget will  receive less than 3.5 million drams. The planned volume of production  will be 16.4 billion drams, it will be exported to the EAEU  countries, mainly - to the Russian Federation.

It should be noted that according to the information on the website  of Newplast CJSC, NewPlast was founded in 2002, and already in 2007  it was the first in the Caucasus to establish its own production of  metal-plastic and plastic pipes - the most modern, practical and  convenient technical products.

ArmInfo in the public domain could not find information about Trade  Export CJSC, and the information on the website of the electronic  register of legal entities in Armenia only suggested that the company  was founded in October 2015, without specifying the details of the  founders of the company. Having searched for the indicated taxpayer  number - 02643141, as well as the state registration number -  273.120.875782, ArmInfo employees went to the website of the National  Certification Body and to Trade Export CJSC.  According to this  source, the legal address of the organization is registered in the  Kentron community (Center), there it carries out activities, and the  name of the product is men's and women's hats made of mixed yarn. Now  they will release counters.