Thursday, 13 April 2017
Government ready to subsidize certain percentage of commercial loans aimed at expanding production - Karen Karapetyan Meets with Light Industry Representatives
Prime Minister Karen Karapetyan received representatives of light industry companies. The meeting discussed a number of issues related to light industry development, expansion of production and the creation of new jobs.
Prime Minister Karapetyan noted that light industry is the center of attention of the government, as it has not only great export potential, but also great development potential, which can create relatively quick jobs.
The Head of Government stressed that the State is ready to continue active cooperation and promote effective implementation of new projects in order to ensure progress in this industry. “The government is ready to encourage local producers and subsidize a certain percentage of commercial loans aimed at expanding production and creating new jobs,” Karen Karapetyan said.
In this context, the representatives of companies came up with specific investment initiatives aimed at expanding their activities, as a result of which several thousand new jobs will be created in Armenia. The Prime Minister instructed the Minister of Economic Development and Investment to discuss all the proposals substantially within a short period of time and move forward.
Touching upon tax and customs administration-related issues, the Prime Minister stated in part, “Our task is to ensure equal conditions for businesses. Today there is not a single person who is in a privileged position.”
During the meeting reference was made to the VAT refund period, the terms of customs clearance of imported raw materials, training, retraining and other issues. The Premier suggested holding another meeting with industry representatives after discussing the questions with the Ministry of Economic Development and Investment.
