Government Supports UAV Production with 4.25 Billion Dram Investment Program

The government has decided to include "ARTEK POWER SYSTEMS" LLC in the "ALLIANCE" free economic zone. According to "Armenpress", the decision states that the company will specifically engage in the production and export of unmanned aerial vehicles (UAVs).

The duration for being included in the registry of operators has been set at 5 years, but no longer than the operational period of the "Alliance" free economic zone. The activities of operators in the "Alliance" free economic zone will enable investment attraction, enhance the export of results created in the field of high and innovative technologies, and contribute to the recognition and dissemination of the Armenian brand in this sector.

Within the framework of the program (2021-2025), investments will amount to approximately 4.25 billion dram. During the program, 85 or more new jobs will be created with an average monthly salary ranging from about 450,000 dram (in the first year) to 550,000 dram.

In its first year of operation, the company will have approximately 250 square meters of office space in the "ALLIANCE" free economic zone, which will expand to reach 1,000 square meters by the fifth year.