12/02/2009 19:31
Armenia promotes large-scale investments
Companies investing more than 300 million AMD in Armenia, in 2009-2010 will not have to pay VAT at customs for the export of technologies and equipments to promote their production. The Government has cancelled VAT for similar companies to provide them opportunity to make large-scale investments without making large-scale expenses.
The resolution has, first of all, been adopted for «VKS-Armenia» company, founded in November, 2007 in Armenia. This is the subsidiary of a well-known German company in Armenia. The company with 700 employees produces high-quality textile and intends to set subsidiaries in different regions of Armenia.
Armenian PM mentioned that similar resolutions are going to involve many producers and at the moment Armenia needs them badly.