ArmInfo. AMIO Bank will be exempt from customs duties on the import of equipment, components and raw materials. This decision was made during the RA government session on July 17.
As noted in the justification of the draft decision, AMIO Bank will transfer the imported equipment, products and raw materials to Mel Metal company for the implementation of the investment program. The imported equipment is intended for the processing of lead-acid batteries. These activities will be carried out in Artashat. The company was established in 2019.
As part of the project, it is planned to invest 1.2 billion drams in the acquisition of fixed assets, raw materials and construction work. Currently, the enterprise has created 27 jobs with an average monthly salary of 135,000 drams. Within the framework of the investment program, it is planned to increase the number of jobs to 42 with an average monthly salary of 170,000 drams. The cost of goods presented under the benefit is 129 million drams. The benefit for exemption from customs duties is estimated at 8.2 million drams. The application of the benefit, as noted in the justification, will serve as a serious incentive for the implementation of new investment programs, leading to the creation of new jobs, attracting investment, stimulating local production and exports. It will also contribute to enhancing the technical equipment of the manufacturing industry.
