The government has announced that “Becon Product” limited liability company will be exempt from import duties for its investment program in the high-tech field. The company plans to import equipment for the production of dairy products, which will take place in the Kotayk province of Armenia. Founded in 1995, the company aims to invest $2.55 million in equipment procurement, $1 million in basic supplies procurement, and $3 million in factory construction. Currently, the company employs 426 people with an average monthly salary of 207 thousand AMD, and by 2027, they expect to have 526 employees with an average monthly salary of 257 thousand AMD.

The total value of the products considered for exemption is $2.55 million, while the customs duties exemption amounts to $382.5 million.

Source: News from Armenia – NEWS.am