Thursday, 29 May 2014
Government Supports Investment Programs
A Cabinet sitting was held today, chaired by Prime Minister Hovik Abrahamyan.
The Government agreed to extend until June 7, 2016 the customs regime of temporary imports in relation to goods imported by the Armenian Branch of the Kalpataru Power Transmission Limited. The subsidiary carries out design, supply and installation of 220 kV high-voltage overhead transmission line Noraduz-Lichk-Vardenis-Vayk-Vorotan-1. The Government has taken into account the importance of the program from the point of view of energy security of Armenia and expects that the decision will enable successful implementation of the project, which shall make it possible to transfer more power, significantly improve system reliability and the quality of electricity supplied.
Another decision was passed to extend till December 25, 2014 the “temporary imports for processing activities” customs regime for the goods imported by Nicola International, Armenia LLC. The company has imported olives with the aim of processing, which however it was unable to re-export as a result of the global economic crisis. Enabling a deadline extension, the government will help stabilize the company’s financial position and preserve the jobs available.
The term of payment of VAT on goods imported by Armenian Crops Ltd within the framework of its ongoing investment program to a total the value of over AMD 200 million was extended till May 26, 2017. The company plans to build 11 hectare-wide greenhouse facility in Kotayk Marz of Armenia by bringing in modern equipment and carrying out investment worth AMD 6.5 billion. Products worth about AMD 2.7 billion will be produced annually, most of which will be exported to Russia, Georgia, Belarus, Kazakhstan. Some 90 jobs are due to be created.
The Government agreed to the proposal on conclusion of an agreement on cooperation in the field of agriculture between the Governments of Armenia and the Swiss Federal Council. Crop production and animal husbandry are the main areas of cooperation. In addition, the parties will be making joint efforts to implement programs aimed at promoting organic farming and sustainable agricultural development, build up research, technology and information linkages.
The Government amended one of its previous decisions aimed at ensuring that the monthly cash assistance provided to military personnel and the members of their families come into conformity with two laws of the Republic of Armenia adopted in December 2013.
The term “cash assistance” used in the decision is replaced with the following formulas: monthly bonus, old-age benefit, disability benefit and survivor’s allowance.
By a government resolution, Moscow National Research Nuclear University student David Nersisyan was granted a deferment from mandatory military service before the end of his training course - the 2019 summer call-up campaign.
