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Official News

Thursday, 6 March 2014

Attracting investment seen as a government priority

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

The Government decided to extend to March 1, 2017 the deadline for the payment of VAT on goods worth over 300 million imported by Armenia Wine LLC. Under the new investment program, a brandy producing facility will be built in Aragatsotni Marz to represent a close circuit of cutting edge equipment and technologies ranging from grapes processing to the release of the end product.

The Armenia subsidiary of Corsan-Corviam Construction S.A. was granted a 3-year extension over the currently applicable temporary import customs regime.

The meeting approved a package of draft amendments to the laws on Audit Chamber and National Assembly Rules of Procedure to bring them into conformity with the international standards of financial control, as well as rule out the existing discrepancies of the law on Audit Chamber.

The Government approved a procedure for appointment and payment of monthly remunerations to the families of those servicemen posthumously awarded the title of National Hero of Armenia or the holders of the Order of Fighting Cross. Remuneration due to the families of national heroes of Armenia will be AMD250 thousand, while the families of perished holders of the Order of Fighting Cross of 1st degree will get AMD150 thousand, the families of the holders of the Order of Fighting Cross of 2nd degree will be remunerated to the amount of AMD100 thousand. The decision is applicable to those relationships arising after January 1, 2014.

At the meeting, the unemployed involved in vocational training courses administered under the annual State program will get a monthly scholarship equivalent of 50 percent of the minimum wage established by Article 1 of the law on minimum monthly wages.

The Government established the size of childbirth lump-sum payments as follows: for the birth of a first child - AMD50 thousand, for a second child - AMD50thousand, for a third child - AMD1mln, for a fourth child - AMD1mln and, finally, for the birth of a fifth child and over - AMD1.5mln.

The Government approved domestic toy safety technical regulations in line with the international and European standards.

At this point, the manufacture and delivery of national passports (with biometric data) and identity cards is impossible within one to three working days in the regions. Therefore, the meeting amended a previous decision to set a deadline of five days for this process. The new decision is meant to improve significantly the quality of public services.

The Government next approved a program and an agenda for the 2014 edition of “My Armenia” pan-Armenian festival and decided to set up a State non-profit organization referred to as “Youth State Orchestra of Armenia.”

In conclusion, the Cabinet agreed to the proposal on the signing of an intergovernmental agreement between the Republic of Armenia and the Republic of Moldova on visa-free travels of citizens of the two countries.

November 2020