Jermuk Group exempt from paying customs tax for AMD 10.3 billion worth of investments

This will allow the Group to save around AMD 576 million worth of customs tax

p

YEREVAN, June 20. /ARKA/. The Armenian government has exempted the Jermuk Group from paying customs tax on imported commodities since the Group has planned an investment project worth AMD 10.3 billion, as per the government’s decision made on Thursday.

/p

p

This will allow the Group to save around AMD 576 million worth of customs tax.

/p

p

The government’s decision noted that the Jermuk Group is planning to import commodities for the production of insulating foil and to invest in expanding its exports. In total, the company will export around 80% of its produce to the UAE, the US, the EU, Georgia, and to other countries.

/p

p

Jermuk Group is Armenia’s largest producer of mineral water. Established in 1996, it is based in the town of Jermuk in the Vayots Dzor province.

/p

br

br