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Official News

Thursday, 27 February 2014

Water-User Inspections Continue In Ararat Valley, Government Encourages Investment Projects










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

Opening the meeting, the Prime Minister referred to the ongoing water-user inspections in Ararat Valley, which have led to a number of disclosures and problems identified in this area. The issue was commented on by the Minister of Nature Protection.

Based on the private initiative of AJA Free Economic Zone CJSC to set up a free economic zone (FEZ) on the premises of AJA Holding CJSC, their bid to be granted the operator’s status and the interagency evaluation committee’s finding, the government decided to establish a free economic zone (FEZ) on the territory of AJA Holding CJSC (Yerevan, Kashegortsneri -70) in order to attract foreign direct investment, promote exports with the help of international companies specialized in the manufacture of jewelry items, precious stones and watches, create new jobs and achieve sustainable economic development.

The Executive approved the zone’s boundaries and the business plan submitted by the Operator. The decision seeks to create a unique cluster for the manufacture of jewelry items, precious stones and watches in our country and launch a free economic zone.

“Dear colleagues, you are well aware of this program as we have already introduced it to you. Also, you may recall that a major congress of international jewelers was held in Yerevan, which addressed this question. The initiative can be described as coming from the private sector. Strong with a serious potential, we have long been preparing the project. The FEZ will likewise enable Armenian from all over the world to open up businesses in Homeland. Indeed, they will mainly consist of smaller enterprises. Nevertheless, as the Minister said, over a thousand new jobs are due to be created leading to increased labor market demand,” the Premier pointed out.

With another decision, the government extended the VAT payment deadline until February 25, 2017 for over USD300mn worth of goods imported under the investment program of Ecotomato CJSC. Engaged in the cultivation and sales of high-quality Dutch roses, the Company has already implemented two successful projects. The new project will expand to 3 hectares the existing greenhouse facility to generate new jobs.

The government next issued an authority to open an extra-budgetary bank account by the Ministry of Labor and Social Affairs in order to develop a cost estimate for the construction of a new building for the nursing home N1 in Yerevan to provide nursing services for homebound persons. The State of Kuwait will extend a donation equivalent of USD1mn. Due to kick off this April, the construction will last about a year. The new building will be named after the State of Kuwait.

The Ministry of Defense was appointed to be Armenia’s authorized agency for implementation of the engineering cooperation agreement between the armed forces of CIS-Member States.

The government approved the “Sadakhlo, Bagratashen Armenia-Georgia border checkpoints overhaul and capacity building” program, which aims to introduce integrated border management European standards with a view to promoting cross-border trade and transits, as well as free movement of people.

The meeting allowed the government of the Republic of Belarus to buy a landed estate of 0.3747 ha from a private owner in Aringe village of Kotayk Marz for embassy construction.
The meeting agenda featured over 3 dozen items.
 

 

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