YEREVAN. – The Government of Armenia on Thursday granted a value added tax payment postponement for Armenia Wine Company, in order for the latter to produce champagne. 

Armenia’s Economy Minister Tigran Davtyan informed that the Company made an AMD 6-billion (approx. US$ 14,618,343) investment, and created 120 new jobs with a monthly salary of AMD 127,000 (approx. $310) per employee.   

PM Tigran Sargsyan noted that this production will become particularly important in case of being exported.

To note, the Yerevan Champagne and Wine Factory already produces champagne. But in line with official statistics, Armenia’s champagne production reduced by almost half in January-May 2012, as compared with the same time period last year, and constituted close to 30,000 liters.