Establishes its first free economic zone for high-tech industries
02 Feb 2012
On 2 February 2012 the Government of Armenia approved the establishment of its first free economic zone (FEZ) for the following industries: electronics, engineering, pharmaceuticals and biotechnology, information technologies, alternative energy, technological design and telecommunications. The FEZ is seen as an instrument to stimulate foreign investment, the inflow of state-of-the-art technologies, job creation and export growth. The approved life period of the FEZ is 10 years. In accordance with the earlier 2011 Law “On Free Economic Zones”, FEZ residents will enjoy preferential treatment on corporate profit tax, VAT, property tax and customs duties.
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Type:
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Promotion and facilitation (Special economic zones)
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Industry:
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Manufacturing (Manufacture of basic pharmaceutical products and pharmaceutical preparations, Manufacture of computer, electronic and optical products, and electrical equipment)
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Services (Electricity, gas, steam and air conditioning supply, Telecommunications)
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Sources:
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Government of Armenia, 02 Feb 2012
