At Thursday’s Cabinet meeting, the government of Armenia decided to push back the VAT payment deadline for three years for Hello company, if the latter imports goods within the framework of an investment program.

Artsvik Minasyan, the Minister of Economic Development and Investments, presented this matter. In his words, Hello company plans to implement an investment program, as a result of which it envisions to increase products and create new jobs in Armenia’s textile industry.

PM Nikol Pashinyan, for his part, noted that even though the policy of granting such privileges to companies is comprehensible, every time there will be certain questions with respect to the grounds for their granting.

“The most important problem we have to resolve here is the creation of new jobs, development of the sector,” Pashinyan said, in particular. “We must take dramatic measures to promote the development of the light industry sector.”

He stressed that privileges should be granted to companies in an extremely transparent manner, so that the climate of trust toward any process will not be disrupted.