Over 1,200 new companies with Russian capital started in Armenia since March- minister

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Economy

07.07.2022, 13:34

We need to install a new infrastructure in Armenia to address the issues of some 1,200 new companies with Russian capital that were started in Armenia since March, Armenian Minister of Economy Vahan Kerobyan said in an interview with Rossiyskaya Gazeta (Russian Newspaper).

Over 1,200 new companies with Russian capital started in Armenia since March- minister

YEREVAN, July 7. /ARKA/. We need to install a new infrastructure in Armenia to address the issues of some 1,200 new companies with Russian capital that were started in Armenia since March, Armenian Minister of Economy Vahan Kerobyan said in an interview with Rossiyskaya Gazeta (Russian Newspaper).

According to him, the new infrastructure is important for new companies, and for this reason it was decided to start organizing several technoparks and industrial zones, the construction of one - the Shirak industrial zone - will start next year.

"We are inviting Russian companies to Armenia which are interested in such infrastructure. Besides first-class infrastructure, first-class zones for industrial activity, it will also provide special tax breaks, logistic ties, and help companies quickly find new markets," Kerobyan said.

The minister noted that Armenian and Russian partners are considering creation of joint ventures in such areas as production of chemical products, metallurgy, and high-tech.

"Currently, the governments of the two countries are working on mutual certification of products. This applies to industry, medicine products and many other industries. This will remove obstacles in mutual trade," Kerobyan said. -0-

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