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TAX EVADERS TO BE BANNED FROM FREE ECONOMIC ZONES IN ARMENIA
PanARMENIAN.Net
March 21, 2012 - 12:17 AMT
PanARMENIAN.Net - Like all other governments, Armenian authorities
aim to establish free economic zones in the country to boost economic
growth through increased export, creation of new jobs and promotion
of investments.
Hovhannes Avetisyan, head of the investment policy department of
Armenia's Economy Ministry took part in the discussion on "Prospects
of creation free economic zones (FEZ) in Armenia and their potential
impact on IT industry"on March 21 in Yerevan.
He said the government has set a tough tender for FEZ organization.
With regard to this, Avetisyan reminded that the Armenian government
approved on February 2, 2012 the project on FEZ creation on the
territory of Mars plant and Yerevan scientific and research institute
of mathematical machines, as well as the bid by Sitronics JSC for
FEZ organization.
"The government will not permit tax evader companies' entry to FEZ;
only companies able to ensure growth and development will be allowed
in," Avetisyan emphasized.
The ministerial official also added that a document will be signed
with Sitronics company within a month, according to which the company
commits to undertake FEZ organization during six months, following
which its official launch will be announced.
"All procedures are being accomplished in line with the timescale,
and there are no concerns over possible cancellation of the law on FEZ
due to a failure to launch within one year after it became effective,"
he said.
The initial stage of the project envisages investments worth USD 10
million; also, new jobs will be created.
On December 28, 2011 Armenian Minister of Economy Yerevan chaired the
first meeting of the intergovernmental committee on formation of free
economic zones.
On June 21, 2011 Armenian President Serzh Sargsyan signed the "law
on free economic zones" aimed at settlement of export problems and
creation of favorable conditions for export-oriented enterprises.
Coming years envisage formation of 2-3 free economic zones in agro and
industrial fields at Zvartnots Airport and Mars plant respectively,
with negotiations currently in progress with jewellers.
PanARMENIAN.Net
March 21, 2012 - 12:17 AMT
PanARMENIAN.Net - Like all other governments, Armenian authorities
aim to establish free economic zones in the country to boost economic
growth through increased export, creation of new jobs and promotion
of investments.
Hovhannes Avetisyan, head of the investment policy department of
Armenia's Economy Ministry took part in the discussion on "Prospects
of creation free economic zones (FEZ) in Armenia and their potential
impact on IT industry"on March 21 in Yerevan.
He said the government has set a tough tender for FEZ organization.
With regard to this, Avetisyan reminded that the Armenian government
approved on February 2, 2012 the project on FEZ creation on the
territory of Mars plant and Yerevan scientific and research institute
of mathematical machines, as well as the bid by Sitronics JSC for
FEZ organization.
"The government will not permit tax evader companies' entry to FEZ;
only companies able to ensure growth and development will be allowed
in," Avetisyan emphasized.
The ministerial official also added that a document will be signed
with Sitronics company within a month, according to which the company
commits to undertake FEZ organization during six months, following
which its official launch will be announced.
"All procedures are being accomplished in line with the timescale,
and there are no concerns over possible cancellation of the law on FEZ
due to a failure to launch within one year after it became effective,"
he said.
The initial stage of the project envisages investments worth USD 10
million; also, new jobs will be created.
On December 28, 2011 Armenian Minister of Economy Yerevan chaired the
first meeting of the intergovernmental committee on formation of free
economic zones.
On June 21, 2011 Armenian President Serzh Sargsyan signed the "law
on free economic zones" aimed at settlement of export problems and
creation of favorable conditions for export-oriented enterprises.
Coming years envisage formation of 2-3 free economic zones in agro and
industrial fields at Zvartnots Airport and Mars plant respectively,
with negotiations currently in progress with jewellers.