CREATION OF FREE ECONOMIC ZONE FOR JEWELRY DISCUSSED IN ARMENIA
12:28, 27 December, 2012
YEREVAN, DECEMBER 27, ARMENPRESS. The creation of free economic zone
for jewelry is under discussion in Armenia. Also negotiations regarding
the creation of the free economic zone in the territory of “Zvartnots”
Airport are underway. The Head of Foreign Investment Policy Department
of the Ministry of Economy of the Republic of Armenia Vahagn Lalayan
stated this in a conversation with “Armenpress”. According to him
territories of a number of organizations have already become free
economic zones. Vahagn Lalayan stated: “The creation of new free
economic zones in the territory of the Republic of Armenia is rather
possible. It depends upon the developments and priorities of the
Armenian economy.”
The creation of free economic zones mainly targets to increase
import via the involvement of the foreign investors, creation of
new vacancies, and stabile economic development. Those organizations
acting within free economic zones are free of prophet tax, value added
tax, corporative income tax, property tax and others. The sphere of
scientific technologies is also of a certain importance. Corresponding
legal field has been created to provide activity of the free economic
zones.