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February 25
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YEREVAN. – The package of proposed bills, in particular, provides for tax breaks until 2030 to companies that have expressed a desire to do space business in Armenia. Minister of Technological Industry Hakob Arshakyan said this at the January 24 sitting of the National Assembly while discussing the package of bills on Space Activity and related laws.

He added that a licensing process for such companies is envisaged to carry out, for which they have to pay an annual state fee of 10 million drams.

The proposed legislative package, as the minister noted, is intended to revitalize the tradition of space research in Soviet times.

Arshakyan also noted that negotiations are currently underway with several companies on manufacturing satellites in Armenia and attesting them.

He emphasized that the activities of companies engaged in the field should be insured against all kinds of risks.

Space activity in Armenia has been regulated on the basis of international norms. But now, as Arshakyan noted, there is a need to resolve the issue at the legislative level.

As per the minister, the development of this sector will also automatically lead to the growth of other related sectors.

"The goal of the package is the development of technology, science and education," the minister assured, "as well as the strengthening of state security and the development of international cooperation."

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