At the meeting on April 18, the Government of Armenia decided to grant incentives to LLC "In-Vi," which plans to use imported raw materials for the production of cables and wires. The production will take place in the capital, Yerevan.
It is noted that investments have already been made in the amount of 5.6 billion drams (about $15 million) for the purchase of working capital, as well as 368 million drams for the purchase of fixed assets. Within the program, investments of 16 billion drams ($42 million) are planned for the purchase of raw materials, including the cost of imported raw materials, and 800 million drams for the purchase of fixed assets and the construction of new workshops.
Currently, there are 92 jobs in production with an average salary of 375,000 drams until 2027. It is planned to increase the number of jobs to 105, with an average salary of 400,000 drams (over $1,000). The cost of goods presented for incentives is 10.5 billion drams (over $26 million).
