At Thursday’s Cabinet meeting, the Government of Armenia decided to grant the application by AES TRADE LLC for exemption from the import duty on imported (being imported) technological equipment, components and accessories, raw materials, and materials under the priority investment program.

The issue was presented by the Minister of Economy Tigran Khachatryan, who noted that the company has been operating in Yerevan since 2013, engaged in the production of door and window frames with light fixtures.

The minister added that the production with this program is estimated at 8.8 billion drams, 70-80% of which will be implemented in Armenia.

By another government decision, SIL-MAAZA LLC, which is owned by prominent businessman Khachatur Sukiasyan, also was granted a tax break. In particular, within the framework of the investment program, the period of payment of value added tax for the period from October 15, 2019 to December 31, 2021, including the imported goods, was delayed by 3 years from the date of declaration of import.

Tigran Khachatryan mentioned that this company is engaged in the production of juices and soft drinks.

“This program envisages investments of about 119 million drams, of which the cost of equipment will make 93 million drams,” he added.