Government provided tax and other benefits to 25 companies, which pledged a total of $254 million investments, Pashinyan says
27.06.2019,
17:28
Since the beginning of 2019, the Armenian government has provided tax and other benefits to 25 companies, which pledged a total of $254 million investments, Prime Minister Nikol Pashinyan said during a government meeting today.
YEREVAN, June 27, /ARKA/. Since the beginning of 2019, the Armenian government has provided tax and other benefits to 25 companies, which pledged a total of $254 million investments, Prime Minister Nikol Pashinyan said during a government meeting today.
He said the government has one instrument to encourage investment - a 3-year VAT payment deferment and an exemption from customs duties.
According to Pashinyan, in the first 5 months of 2018, the government approved 11 projects, which were to make $35.3 million worth investments and create 502 jobs in 5 months. In the same time span of 2019 the government approved 25 projects, which are to invest $254 million and create 2,379 jobs.
Pashinyan said these figures need an in-depth analysis, including of the current status of these projects. He added that studies have shown that there are no tangible risks - 90% or more of the companies fulfill their obligations.
As an example, the prime minister referred to Adamyan company, which received benefits from the government for the production of household appliances, including Adamyan TV sets.
"When the government provided the company with benefits, some mass media outlets claimed it was fake news and that no plant was built. Now, our citizens can buy Armenian-made TVs in stores," Pashinyan said. -0-
+
He said the government has one instrument to encourage investment - a 3-year VAT payment deferment and an exemption from customs duties.
According to Pashinyan, in the first 5 months of 2018, the government approved 11 projects, which were to make $35.3 million worth investments and create 502 jobs in 5 months. In the same time span of 2019 the government approved 25 projects, which are to invest $254 million and create 2,379 jobs.
Pashinyan said these figures need an in-depth analysis, including of the current status of these projects. He added that studies have shown that there are no tangible risks - 90% or more of the companies fulfill their obligations.
As an example, the prime minister referred to Adamyan company, which received benefits from the government for the production of household appliances, including Adamyan TV sets.
"When the government provided the company with benefits, some mass media outlets claimed it was fake news and that no plant was built. Now, our citizens can buy Armenian-made TVs in stores," Pashinyan said. -0-
+
