Armenia's largest toy maker to invest $1.1M, granted customs duty exemption

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21.11.2024, 15:47

At a meeting on Thursday, the Armenian government granted ‘’Mankan’’ LLC an exemption from customs duties on imported raw materials for the production of soft toys.

Armenia's largest toy maker to invest $1.1M, granted customs duty exemption

YEREVAN, November 21. /ARKA/. At a meeting on Thursday, the Armenian government granted ‘’Mankan’’ LLC an exemption from customs duties on imported raw materials for the production of soft toys. The decision was made in connection with the company’s investment program valued at 427.2 million drams (approximately $1.1 million).

It is noted that the program includes capital investments of 115.7 million drams and 311.5 million drams for the purchase of raw materials, which will be exempt from customs duties upon import.

Currently, the company employs 105 people with an average monthly salary of 150,000 drams. By 2027, the staff is expected to grow to 160, and the average monthly salary is projected to increase to 192,000 drams. ($1 = 389.19 drams). -0-

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