Thursday, 19 June 2014
Business Environment Set To Improve
A Cabinet sitting was held today, chaired by Prime Minister Hovik Abrahamyan.
The government extended the “temporary import for processing needs” customs regime for the goods imported by Subsidiary No. 1 of Saratov Generator Company LTD until the end of 2014. Under the contract signed with the Company, electric generators, black metal fixtures, a flexible isolating tube, copper rolling and other products have been imported to be re-exported subsequently, but due to manufacturing problems, they proved impossible to be re-exported within the projected deadlines and the need has arisen to extend the customs regime for another six-month period. Today’s decision will help the Company to complete the processing and export the products, stabilizing the Company’s financial position and preserving the jobs.
The government extended until June 12, 2016 the “temporary import” customs regime for goods imported by CORSAN - Corviam Construction JSC Armenia branch. Note that the Company is the winner of the international tender announced for the North-South Road Corridor Investment Program and has imported surveying equipment. The “temporary import” customs regime was extended until the end of contractual work.
The government allowed the Ministry of Defense, which the authorized manager of the public stake in Charentsavan Machine-Tool Plant JSC, to use the assets belonging to the Company in order to make a contribution to the statutory capital of Lyubava - Armenia CJSC, a Polish-Armenian joint venture. The Polish side has invested USD 2 million since August, 2013, and is supposed to invest a total of USD 10 million, should the Armenian side make its share of contribution.
Five agenda items were meant to streamline the functions of the Police. First, the Executive redistributed the 2014 State budget, amending a previous decree in order to allocate the amount payable in the first quarter of 2014 for the provision of biometric electronic passports and identity cards from the proceeds of sales of cards and passports implemented in the first quarter of 2014, considering the fact that the yearly amount due for the printing of conventional passport forms has been removed from State budget.
The next decision passed at the meeting seeks to streamline the registration of stolen antiques and other cultural assets. Henceforth similar assets can only be removed from the register in case of reinstatement, because they have a cultural value in addition to their material value.
Another amendment was made to establish stricter rules for the registration and removal of vehicles sought by the Police. Henceforth, such vehicles will be subject to registration following the investigating authority’s decision to start criminal prosecution, while they will be removed from the register based on a decision of termination of prosecution.
A previous government decree was complemented with the following content: “High-quality undisrupted video recording equipment must be installed at all entrances into the buildings and other premises designated for the sale of weapons so that recordings could be made during dark hours with the possibility of preserving them for a minimum of 10 days.”
