Thursday, 17 September 2015
Privilege to boost domestic production and exports
A Cabinet sitting was held today, chaired by Prime Minister Hovik Abrahamyan.
The Government adopted a decision “On approval of conditions necessary for application of the privilege of exemption from import duties of technological equipment, components and accessories, raw materials and other inputs imported under investment projects implemented in priority sectors and recognition of the authorized entity.”
The decision provides that technological equipment, components and accessories, raw materials and other inputs imported under investment projects implemented in priority sectors shall be exempted from customs duties established by law unless they are produced in the Eurasian Economic Union-member countries (or produced in insufficient quantities for the investment project) or otherwise fail to comply with the technical standards necessary for the implementation of the investment program. The above privilege is a major stimulus in terms of attracting new investment, creating new jobs, stimulating local production and exports.
The Government amended a number of decisions to allow the construction of specified facilities in the regions and in Yerevan through a negotiated procedure without the announcement of a tender.
At this point, several construction activities are scheduled for implementation in some provinces and in Yerevan, which have not yet started. Design and cost estimate work is complete for a number of educational, cultural, residential building and renovation projects that should be completed by the end of the year.
The meeting passed a decision concerning the application received from Armenia Electric Networks CJSC regarding the alienation of 100% shares belonging to Inter RAO Holding BV. Note that Inter RAO Holding BV had notified the Government of their intention to dispose of 100% of shares in Electric Networks of Armenia CKSC in favor of Liormand Holdings Limited.
The decision urges the executive heads of the agencies concerned, in particular, the ministers of Energy and Natural Resources, Justice, Finance and Economy and the head of the Public Services Regulatory Commission to examine the contract and the associated documents and give an opinion.
The next decision establishes the list of those diseases entitling the participants to submit a claim on the receipt of the full amount of their retirement account balance. The list features the following diseases in which a sick person’s life is in immediate danger or in cases where they need palliative assistance: circulatory system disorders, malignant tumors, heart failure and other serious diseases.
According to another decision, the Ministry of Culture will be provided AMD 5 million from the Government’s Reserve Fund subject to transfer to the National Academic Opera and Ballet Theater for organization of a gala event on the 24th anniversary of Armenia’s independence.
