IMPORTS SUBSTITUTING BRANCHES ARMENIA’S TOP PRIORITY

ARKA
Feb 23, 2009

YEREVAN, February 23. /ARKA/. Armenia focuses on boosting sectors
substituting exports, RA Prime Minister Tigran Sargsyan said Saturday
during the sixth international economic forum Bridge 2009.

To achieve this goal, the government grants subsidies to private
businesses that are facing difficulties. The government also
participates in the capital of those enterprises, the premier added.

According to the prime minister, the government has never undertaken
similar steps before. Another difficult decision the government had
to make was exemption of VAT on imports of technology equipment.

"The price for this decision is around 6bln drams shortage of budget
funds," Sargsyan said, adding the government gives local entrepreneurs
a chance to modernize their enterprises in three years.

The premier pointed out the rise in customs tariffs on several goods
produced in Armenia. "We have tried to stick to the agreements with
WTO," Sargsyan concluded.

From: Emil Lazarian | Ararat NewsPress