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Official News

Thursday, 22 September 2011

Armenian Economy Invigorated

A cabinet sitting was held today, chaired by Prime Minister Tigran Sargsyan.

Before proceeding to the agenda and after reiterating independence 20th anniversary congratulations, the head of government referred to the latest estimates of international credit rating organizations which evidence that our country ushers in a stage of economic activity.

The Minister of Agriculture was told to have the Armenian Seeds Agency SNCO distribute the recently imported Russian wheat seeds among eligible program beneficiaries cultivating each over 7 hectares of arable land in marzes, as well as to organize the purchase of 400 tons of first-reproduction seeds through a set of contracts signed with the marz governors.

In this connection, Tigran Sargsyan pointed out: “The whole lot of elite seeds is in Armenia and the Ministry of Agriculture has already started distributing them in the provinces. Besides, some 2900 tons of reproduced seeds are back in from the local farmers. This means that the agrarian sector can enjoy increased productivity in 2012. Today’s decision will promote both expansion of cultivated lands and farming efficiency. This is a revolutionary shift in home agriculture.”

The government amended a previous decree on allocation of a plot of land to Armenia International Airports CJSC for free use extending the area so allocated by 0.30 hectares. According to the Prime Minister, the decision initiates a new project: two residential buildings neighboring Zvartnots International Airport will have to be evacuated in order to establish a free economic zone. We thereby offer additional area to the concessionaire who is to provide new housing to the households concerned. Here is the rationale behind of our decision.”

The government made another amendment according to which the organizers of lotteries will no longer have to seal on documents before submitting them to the authorized public entity. This is supposed to further improve the business environment and facilitate legal and natural persons’ compliance with their statutory commitments.

As Tigran Sargsyan noticed, seals continued to be used in spite of the fact that the corresponding requirement had been withdrawn from all applicable laws and regulations. “Here, we need the Central Bank’s intervention considering that either the trade banks keep on practicing seals.”

The government decided to redraft a previous decree concerning the standing 3-year VAT holiday accorded to Nubarashaen Poultry Farm for imports of equipment to the cost of AMD 300mn and over stipulating that the company should clarify the list of imported goods. Note that some 90 jobs are expected to be created under the company’s new project.

Amending another decree, the meeting decided that the amount of AMD 56mn as economized by Tamara Fruit CJSC on the procurement of saplings needed for its organic gardens will be returned to the State budget. Note that the company has purchased 74 thousand more saplings than planned.

September 2020