Glass World Company intends to invest about $4.3 million in Armenia

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18.09.2014, 18:11

Glass World Company glass-manufacturing factory intends to invest about AMD 1.75 billion (about $4.3 million) in Armenia, Armenian Economy Minister Karen Chshmarityan said Thursday at a regular Cabinet meeting.

Glass World Company intends to invest about $4.3 million in Armenia

YEREVAN, September 18. /ARKA/. Glass World Company glass-manufacturing factory intends to invest about AMD 1.75 billion (about $4.3 million) in Armenia, Armenian Economy Minister Karen Chshmarityan said Thursday at a regular Cabinet meeting.

The Armenian government decided to provide a three-year VAT payment adjournment to Glass World Company.

The minister said some 100 new jobs with an average salary of 200,000 drams are planned to be created as part of the company’s investment program.

About 50 percent of the output will be exported to the United States, Belarus and Georgia.

Armenia’s government decided yesterday to down the benchmark of the investment package that makes the investor eligible for a three-year VAT payment adjournment from 300 million drams to 200 million drams. ($1 407.38 drams). --0-----

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