Armenian minister heralds the start of investment boom

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Economy

23.02.2017, 15:27

Armenia’s Economic Development and Investments Minister Suren Karayan announced today the start of ‘investment boom.’

Armenian minister heralds the start of investment boom

YEREVAN, February 23. /ARKA/. Armenia’s Economic Development and Investments Minister Suren Karayan announced today the start of ‘investment boom.’ Speaking to journalists after a regular cabinet session the minister said eight investment projects were presented to the government.

He said all eight companies, which pledged to invest a total of 7 billion drams and create 350 new jobs, were awarded benefits by the government.

"Today I presented 8 investment projects to the government. Our investors are not afraid of the pre-election situation. The investment activity, which we see now can called investment boom,' Karayan said.

The minister said that three of the eight investment projects were awarded by the government customs duties benefits, the other four were awarded 3-year VAT payment postponement, and one company received permission to deploy its operations at the Alliance free economic zone.

The minister said the presented investment projects include production of solar panels, innovative technologies, tobacco industry, winemaking, gardening, beekeeping and pharmaceutics. They will be implemented in Yerevan, Aragatsotn, Shirak and Syunik regions. -0-

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