Nairit Plant to be announced an industrial zone, the USD 70 mln investor will be free from taxes for 5 years

The draft on activity of Nairit Plant CJSC and defining a special management regime has been included in this week’s NA session agenda. It has been developed by PAP MPs Mikayel Melkumyan, Naira Zohrabyan and Lyova Khachatryan. The draft was approved by NA Standing Committee on Economic Affairs.

Co-author of the draft bill and Deputy Chairman of the NA Standing Committee on Economic Affairs Mikayel Melkumyan told 168.am that it has been discussed with the Government. In his words, in some enterprises an attempt should be made to engage a big investment, otherwise after some time allocation of external loans will be difficult, as Armenia is neither USA, nor China, debt GDP of which has passed 100%, and loans are allocated to them, “If we reach 60-70% our creditworthiness will considerably drop, as our environment is rather risky.”

It’s proposed to define a special regime of the activity and management of the enterprise to provide further vitality, establish an NA temporary committee, which will review the activity of Nairit, enshrine provision of integrity of property complex as well as exclude alienation of main means, as well as provide market assessment of main means.

It’s proposed to announce Nairit Plant an industrial zone within industrial development state projects, moreover, in case of USD 70 million or more investment taxes will be eliminated for 5 years.

By Gayane Khachatryan