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Armenia To Form Free Economic Zone For Jewellers

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  • Armenia To Form Free Economic Zone For Jewellers

    ARMENIA TO FORM FREE ECONOMIC ZONE FOR JEWELLERS

    Vestnik Kavkaza, Russia
    Feb 27 2014

    27 February 2014 - 11:45am

    The Armenian government has decided today to form a free economic
    zone for jewellers in Yerevan, News.am reports.

    The AJA Holding in the new economic zone will be founded by the
    Armenian Jewellers Association (AJA). The Association has about 5,000
    Armenian and foreign jewelers. 15 companies from the US, Russia,
    Turkey and Arab states have expressed interest in the zone.

    The programme for development of the free zone was developed by EV
    Consulting. It plans to attract 150 companies to work there and create
    about 2,000 jobs with an average salary of $500 a month. According
    to the programme, the zone will generate exports of $200-250 million.

    The free economic zone will be free from VAT, taxes on profit and
    property and import customs fees. The zone will focus on exports of
    products abroad. Sales of jewellery in Armenia will be taxed.

    The Armenian government has decided today to form a free economic
    zone for jewellers in Yerevan, News.am reports.

    The AJA Holding in the new economic zone will be founded by the
    Armenian Jewellers Association (AJA). The Association has about 5,000
    Armenian and foreign jewelers. 15 companies from the US, Russia,
    Turkey and Arab states have expressed interest in the zone.

    The programme for development of the free zone was developed by EV
    Consulting. It plans to attract 150 companies to work there and create
    about 2,000 jobs with an average salary of $500 a month. According
    to the programme, the zone will generate exports of $200-250 million.

    The free economic zone will be free from VAT, taxes on profit and
    property and import customs fees. The zone will focus on exports of
    products abroad. Sales of jewellery in Armenia will be taxed.

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