Government exempts Rosegold LLC from import duties; the company will invest $3.5 mln.in building rose growing greenhouse

YEREVAN, October 19. /ARKA/. The Armenian government exempted today Rosegold LLC from customs duties on import of equipment.
The company, founded in 2023, plans to invest AMD 1.4 billion (about $3.48 million) in construction of a greenhouse farm in Kotayk province to grow roses.
According to the government, the company will spend AMD 918 million to purchase equipment and another AMD 480 million to finance earthwork, installation and other operations.
The equipment will be used to build a modern greenhouse complex with a total area of 13,826 square meters to grow different varieties of roses.
Some 90% of the production will be exported to the Russian Federation, and the rest will be sold in Armenia.
The company will create 30 new jobs with an average monthly salary of 180 thousand drams. ($1- 401.67 drams) -0--.