Thursday, November 21 2019 12:57
Naira Badalian

Armenian government granted privileges to companies with "actual"  production

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. 

POST A COMMENT
Input digits     


News
The leadership of the State Revenue Committee of Armenia to visit  IranThe leadership of the State Revenue Committee of Armenia to visit  Iran
Armenian Ministry of Economy to present new economic policy soonArmenian Ministry of Economy to present new economic policy soon
Interview Ms. Sabine Gaber, member of the Executive Board at OeEB with AmeriabankInterview Ms. Sabine Gaber, member of the Executive Board at OeEB with Ameriabank
Ardshinbank to sponsor Olympic Games live streams on Public TelevisionArdshinbank to sponsor Olympic Games live streams on Public Television
EBRD invites Armenian entrepreneurs to become participants in the consultative and training program EBRD invites Armenian entrepreneurs to become participants in the consultative and training program "Learn How ... in the Time of Crisis"
HSBC and Ashoka Joint Green Skills Innovation Challenge Launches in ArmeniaHSBC and Ashoka Joint Green Skills Innovation Challenge Launches in Armenia
Hundreds of enterprises will be closed, we will lose thousands of  jobs - Armenian restaurateurs warn the financial authorities against  the introduction of a common VAT systemHundreds of enterprises will be closed, we will lose thousands of  jobs - Armenian restaurateurs warn the financial authorities against  the introduction of a common VAT system
10% cashback with IDBank Visa cards on the occasion of Family day10% cashback with IDBank Visa cards on the occasion of Family day
Is Armenian Cognac no longer cognac? EU to allocate 3 million euros  to develop a new brand for Armenian brandyIs Armenian Cognac no longer cognac? EU to allocate 3 million euros  to develop a new brand for Armenian brandy
During audit of legality of spending budgetary funds, Ministry of  Finance of Armenia recorded violations in amount of 2.7 billion dramsDuring audit of legality of spending budgetary funds, Ministry of  Finance of Armenia recorded violations in amount of 2.7 billion drams
A year of fragile hopes or double-digit growth: What actually awaits  the Armenian economy in 2021 - Ashot OsipyanA year of fragile hopes or double-digit growth: What actually awaits  the Armenian economy in 2021 - Ashot Osipyan
RA Ministry of Economy: State Program for Leasing Assistance will be  available until the end of 2021RA Ministry of Economy: State Program for Leasing Assistance will be  available until the end of 2021
Presentation of Converse Bank`s online platform for SME financingPresentation of Converse Bank`s online platform for SME financing
Accelerated growth of number of vPOS-s continuesAccelerated growth of number of vPOS-s continues
SRC of Armenia and Armenian office of USAID expressed readiness to  expand cooperation between two bodies SRC of Armenia and Armenian office of USAID expressed readiness to  expand cooperation between two bodies 
Expert: It will be possible to talk about the full recovery of  tourism after 2023Expert: It will be possible to talk about the full recovery of  tourism after 2023
Number of cards on Armenia`s plastic market exceeded 2.5 million, but  the growth shrinks to nullityNumber of cards on Armenia`s plastic market exceeded 2.5 million, but  the growth shrinks to nullity
Yerevan will host first international conference dedicated to  corporate governance issues under slogan Yerevan will host first international conference dedicated to  corporate governance issues under slogan "Integration, Trust,  Investments"
Pashinyan: There is no need to be afraid of an increase in public  debtPashinyan: There is no need to be afraid of an increase in public  debt
Russia and China hold first two positions in export and import in  Armenia`s foreign trade turnover Russia and China hold first two positions in export and import in  Armenia`s foreign trade turnover 
Former Prime Minister: If the economic Former Prime Minister: If the economic "miracles" of the government  are continued, then in a couple of years, in terms of GDP growth,  Armenia will be in the last ranks of the CIS countries
Safe online shopping. A few tipsSafe online shopping. A few tips
Ardshinbank: Visa Direct transfers with more advantageous termsArdshinbank: Visa Direct transfers with more advantageous terms
Armenia`s foreign trade turnover with EU countries has grownArmenia`s foreign trade turnover with EU countries has grown
First floating solar power plant to be built in ArmeniaFirst floating solar power plant to be built in Armenia
Interview with Huib-Jan de RuijterInterview with Huib-Jan de Ruijter
Armenia`s foreign trade turnover with the EAEU countries is in  declineArmenia`s foreign trade turnover with the EAEU countries is in  decline
Head of the Fund: Electricity tariff may be loweredHead of the Fund: Electricity tariff may be lowered
Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021
Natural population growth in Armenia decreased by 17% in the first  quarter of 2021Natural population growth in Armenia decreased by 17% in the first  quarter of 2021
In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%
Armenia considers the possibility of extending the ban on the import  and sale of goods of Turkish originArmenia considers the possibility of extending the ban on the import  and sale of goods of Turkish origin
Acting Minister of Economy: It`s time to make a decision on Amulsar  Acting Minister of Economy: It`s time to make a decision on Amulsar  
Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021
Lavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidlyLavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidly
In Q1 services in a number of areas remained on the rise, but  significantly slowed down the rateIn Q1 services in a number of areas remained on the rise, but  significantly slowed down the rate
Armenia`s alcohol industry recovers from coronavirus crisis in a yearArmenia`s alcohol industry recovers from coronavirus crisis in a year
Dominant telecommunications sector registers growth in Armenia`s  communications sectorDominant telecommunications sector registers growth in Armenia`s  communications sector
Historical records: Pashinyan spoke about the process of  economic recovery in ArmeniaHistorical records: Pashinyan spoke about the process of  economic recovery in Armenia
Passenger traffic in Armenia deepens into recession amid accelerated  growth in freight trafficPassenger traffic in Armenia deepens into recession amid accelerated  growth in freight traffic
Economy Minister insists: Armenia will reach double-digit economic  growth by the end of the yearEconomy Minister insists: Armenia will reach double-digit economic  growth by the end of the year
Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%
In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1
Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% 
Armenian economy tries to growArmenian economy tries to grow
Electricity generation in Armenia slowed down y-o-y growth rate in Q1Electricity generation in Armenia slowed down y-o-y growth rate in Q1
Armenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annumArmenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annum
Central Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflowCentral Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflow
The art of interpretation: 50% is also a result. The art of interpretation: 50% is also a result. "Prosperous Armenia"  indulges in populism, insisting that writing off debt on loans is  justified
Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021
Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021
The regulator is confident that it will be possible to return to the  inflation target next yearThe regulator is confident that it will be possible to return to the  inflation target next year
Central Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditionsCentral Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditions
Armenian lawmaker promises that cross-border VAT payments will be  canceledArmenian lawmaker promises that cross-border VAT payments will be  canceled
Iranian official: Armenia is a window to international marketsIranian official: Armenia is a window to international markets
Central Bank of Armenia raised refinancing rate from 5.5% to 6%Central Bank of Armenia raised refinancing rate from 5.5% to 6%
ARMENAL prepares for ASI certificationARMENAL prepares for ASI certification
IMF gives forecast of Armenia`s key indicators for 2021 - 2022IMF gives forecast of Armenia`s key indicators for 2021 - 2022
Land continues to be the most attractive asset in ArmeniaLand continues to be the most attractive asset in Armenia
In cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone numberIn cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone number
Read more


Exchange rates
17.05.2021
RUB7.060.00
USD521.91-0.57
EUR634.431.76
GBP736.101.49
CAD431.050.67
JPY47.790.01
CNY81.160.19
CHF579.451.49