Government exempts two companies from import duties

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05.01.2023, 17:21

The Armenian government on Thursday approved customs concessions for pharmaceutical company Liquor, which plans to invest AMD 5.3 billion in the expansion of output and increasing exports.

Government exempts two companies from import duties

YEREVAN, January 5. /ARKA/. The Armenian government on Thursday approved customs concessions for pharmaceutical company Liquor, which plans to invest AMD 5.3 billion in the expansion of output and increasing exports.

The company intends to upgrade its production facilities, increase productivity, build a new production building and increase sales on both domestic and export markets in 2023-2027.

Of AMD 5.3bn investment program AMD 800mln are to be spent on construction, AMD 278mln - on re-equipment of the main assets (equipment), AMD 4.2mln – on purchase of imported raw and auxiliary materials, technologies and other components. The amount of exempted import duty is nearly AMD 216.5 million

Also, Armenian company Metal World will invest AMD 49.8mln in purchase of raw materials for the production of tin containers and twist off caps.

The company was granted AMD 2.9 billion in customs concessions for imported raw materials. The company will create 17 new jobs with average wage of up to 400,000 drams ($1 - 394.78 drams). --0--

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