Thursday, 11 November 2010
“Affordable housing for young household” program terms amended
A cabinet sitting was held today under the chairmanship of Prime Minister Tigran Sargsyan
As a result of numerous analyses, surveys and studies carried out all along the preceding stages of “Affordable housing for young household” program, mortgage loan borrowing terms were eased for province-based households leading to lower advance payment amounts established against extra collateral. Besides, greater share of interest will henceforth be covered by the State.
Noting that this approach meets the government’s focus on harmonious territorial development, Tigran Sargsyan stated in part: “We thereby provided better that is preferential conditions for marz recipients of mortgage loans. During the meetings held with the representatives of youth organizations we had promised to enhance the level of State support and we did so, as a matter of fact.”
The government approved the concept of reforms in the system of State Committee on Immovable Property Cadastre by the Government to improve functionality and service standard, reduce corruption risks and provide for greater transparency in the proceedings. A modern system of information technologies will be introduced following the reform: “Citizens will be offered truly exceptional conditions under this concept as they will be able to bypass the bureaucratic red tape thanks to online services available either for specialized entities. The concept envisages establishment of local units. This is a state-of-the-art system, and we will funnel grants to this end, if necessary,” Tigran Sargsyan has assured.
To enhance educational system’s computerization level, the Ministry of Education and Science will be allocated AMD 70000.0 thousand from the government’s reserve fund in 2010 for computer set procurement purposes. “This is crucial as we have the President’s commission to raise the educational system’s computerization level considering that Armenia suffers a serious handicap in this area as compared to other countries of the world. The situation is regretfully far from being satisfactory, and we still have much to do in this field. But, fortunately, private companies from the IT sector have pledged their support with the implementation of pilot projects in general schools which is due to promote the use of information technologies in the system of education,” the Prime Minister noted.
The meeting endorsed the strategy of State financial control strategy to simplify a series of customs procedures and establish an order for online removal of tax returns.
In pursuit of its large-scale investment drive, the government decided to grant a VAT holiday to Jermuk International Ltd. Until October 25, 2013 for any such goods imported from October 25, 2010 through February 1, 2011under the running investment program as will cost over AMD 300mn.
The company intends to mount a well-equipped juice and beverage bottling plant in Yerevan providing 120 new jobs. AMD 282bn out of the total project cost of 5 billion will be used to get the needed equipment.
Giving a highlight to investment programs, Tigran Sargsyan stated in part: “New jobs are due to be created thanks to said investments. A solid investment-supported potential is being shaped for economic growth in 2011. Armenia’s economy will enjoy greater diversification next year, if all the programs endorsed by us prove successful.”
The meeting agenda featured some 50 items altogether inclusive of deadlines set for pension reform, draft laws approved, public welfare- and land use-related decision passed.
