Armenia’s mining output to double in next 3 years, president Serzh Sargsyan says
27.04.2011,
23:47
Armenia’s mining output will double in the next 3 years, president Serzh Sargsyan told journalists today after a meeting with chief executives of the country’s largest mining and metallurgical companies.
YEREVAN, April 27, /ARKA/. Armenia’s mining output will double in the next 3 years, president Serzh Sargsyan told journalists today after a meeting with chief executives of the country’s largest mining and metallurgical companies.
‘This will translate into doubled taxes and new jobs. Mining and metallurgy are the key sectors of our economy. Some of Armenia’s largest corporate taxpayers work in this sector,’ the president said.
The president reminded that the National Security Council approved at its latest meeting a program of reforms in tax and customs areas for the next three years.
‘During today’s meeting I personally assured owners and chief managers of these companies that our goals are serious. We want to simplify taxation and customs procedures as much as possible to free corporate taxpayers form additional problems,’ the president said.
He, however, explained that this does mean lowering tax rates.
‘We can not cut our social expenditures in education, defense and health sectors. The question is that during the reforms, and the international experience proves this, governments face sometimes setbacks and failures. But by simplifying taxation and other procedures we have the right to expect the understanding of taxpayers. It
is a process with mutual interest,’ he said.
In 2010 Armenia’s mining sector accounted for 17% of the industrial output.
The sector rose by 24.3% from 2009. Metallurgical sector saw a 6.4% rise. In 2010 Armenia produced 7,600 tons of converter copper, 5,100 tons of ferromolybdenum, 8,600 tons of molybdenum concentrate, 14,300 tons of zinc concentrate and 118 tons of cooper concentrate.-0-
‘This will translate into doubled taxes and new jobs. Mining and metallurgy are the key sectors of our economy. Some of Armenia’s largest corporate taxpayers work in this sector,’ the president said.
The president reminded that the National Security Council approved at its latest meeting a program of reforms in tax and customs areas for the next three years.
‘During today’s meeting I personally assured owners and chief managers of these companies that our goals are serious. We want to simplify taxation and customs procedures as much as possible to free corporate taxpayers form additional problems,’ the president said.
He, however, explained that this does mean lowering tax rates.
‘We can not cut our social expenditures in education, defense and health sectors. The question is that during the reforms, and the international experience proves this, governments face sometimes setbacks and failures. But by simplifying taxation and other procedures we have the right to expect the understanding of taxpayers. It
is a process with mutual interest,’ he said.
In 2010 Armenia’s mining sector accounted for 17% of the industrial output.
The sector rose by 24.3% from 2009. Metallurgical sector saw a 6.4% rise. In 2010 Armenia produced 7,600 tons of converter copper, 5,100 tons of ferromolybdenum, 8,600 tons of molybdenum concentrate, 14,300 tons of zinc concentrate and 118 tons of cooper concentrate.-0-
