The management of “Semicvet” company has received a major benefit for its investment program in the agrarian field. As of November 23, the company is now exempt from import duty for the products it imports. These products are used in the production of Ecodentrix toothpastes and oral care products, which are manufactured in the Kotayk province of Armenia. “Semicvet” was founded in 2023 and is currently implementing a 35 million AMD investment.

Within the framework of the program, the company plans to make a capital investment of 25 million AMD for equipment procurement and warehouse construction. Additionally, they will invest 18 million AMD for research, the development of new formulas, and the production and marketing of new products.

Currently, “Semicvet” employs two individuals with an average monthly salary of 100,000 AMD. However, with the implementation of the investment program until 2028, the company aims to create numerous job opportunities and increase the number of employees to 150,000-300,000 AMD.

The products imported by “Semicvet” have a total value of 212 million AMD for customs clearance. The exemption from import duty is estimated at 12 million AMD, providing a significant financial advantage to the company.

These developments in the agrarian sector are significant for Armenia’s economy and the future growth of “Semicvet” company. The investment program aims to enhance production capabilities, create jobs, and contribute to the development of innovative oral care products.

Sources: NEWS.am