YEREVAN. – At Thursday’s Cabinet meeting, the government of Armenia granted tax breaks to several companies that plan to make investments in the country. 

One of these enterprises is the AFA company. The Minister of Economy, Tigran Khachatryan, noted that this company plans to manufacture vehicle brake pedals in capital city Yerevan.

With another government decision, a tax break was granted to the Lentex company in Gyumri. It is engaged in the production of socks and knitwear as well as thread processing.

Next, the Armenian government granted a tax break to the PROF AL company, which manufactures aluminum doors and windows as well as metal constructions.

Khachatryan added that with the sum of these three companies, the investments in Armenia will total 11.3 billion drams (approx. US$23,787,000).