Thursday, 25 January 2018
Another Investment Program Encouraged: Government Holds Regular Meeting
A regular Cabinet meeting was held today, chaired by Deputy Prime Minister, Minister of International Economic Integration and Reforms Vache Gabrielyan.
The Government complied with the request submitted by ML Mining LLC to benefit from customs duty exemption for the use such technological equipment, components and accessories, raw materials and other inputs as nay be imported under their investment program in the priority area.
The company will use the raw materials in mining industry. 1 billion drams have already been invested. They will implement another investment of 2 billion drams until the completion of the program in 2021. The project implies about 30-50 jobs with an average salary of 150 000 drams. The output will amount to AMD 200 million annually, of which AMD 175 million will be marketed in Armenia and AMD 25 million - exported to EAEU-member countries.
The Executive approved the Government’s legislative initiatives on a number of draft laws. In particular, the bills amending the RA draft law “On official statistics” and related laws clarify the main concepts used in the law in line with international standards, setting more stringent quality requirements.
The draft law “On formation and functioning of RA Security Council” stipulates that the relationships stemming from the formation and operation of the Security Council shall be streamlined in accordance with the constitutional amendments of 2015 in order to provide necessary and sufficient prerequisites for the normal functioning of the Security Council.
The proposed amendments to the Law on Mining and related legal acts define the scope of information subject to publication by the authorized entity in the field of subsoil use.
The Government decided that the working day of March 9, 2018 will be moved over to the Saturday of March 17, 2018.
