Thursday, 21 April 2011
Tigran Davtyan: Government supportive of investment programs
“Today the government passed another decree to provide economic incentives, build up capacity and support export-oriented programs,” Minister of Economy Tigran Davtyan told the press conference which followed the cabinet sitting. The decree provides that Ararat Group Ltd will be granted extension of the deadlines of Temporary Import customs mode until the year 2015 for the goods imported by the company under said regime.
Set to operate in Ararat Marz, Ararat Group Ltd is the resident company of a British organization which is making investments in Armenia. According to Tigran Davtyan, the investment program will have a total cost of USD 27mn with 220 jobs to be generated.
“At this point, the enterprise is on stand-by, due to be commissioned between June and July. It will be fully operational by yearend. It is equipped with modern technologies enabling food processing and mineral water bottling production lines,” the Minister of Economy informed.
Details available in the audio material
