Khnkikyan Advanced Electronics denied permission for activity in Alliance Free Economic Zone in mars works' territory

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27.11.2014, 18:59

Armenia's government declined today the Khnkikyan Advanced Electronics company's request for authorization of activity in Alliance Free Economic Zone in Mars Works' territory.

Khnkikyan Advanced Electronics denied permission for activity in Alliance Free Economic Zone in mars works' territory

YEREVAN, November 27. /ARKA/. Armenia's government declined today the Khnkikyan Advanced Electronics company's request for authorization of activity in Alliance Free Economic Zone in Mars Works' territory. «The Khnkikyan Advanced Electronics is not a startup company and the presented program and development strategy imply no additional investments and new jobs,» Armenian Deputy Economy Minister Emil Tarasyan said adding that the company had an intention to produce lightning technique devices in the free economic zone. In his words, the company started operating in Armenia in 2012 and has made all the expected investments since then. Armenia’s first-ever tax-free business zone created for high hi-tech manufacturing companies is located in the premises of Mars electronics plant and a research institute in Yerevan. It is run by Russian company Sitronix. ---0-----

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