Company Owned by Samvel Aleksanyan Exempted from Import Duty

The government has exempted the company "MIT FOOD," owned by the family of renowned businessman Samvel Aleksanyan, from import duties during its meeting today on April 30 as part of an investment program in a priority sector. The raw materials imported by the company are intended for meat production, which will take place in Yerevan. The company was founded in 2018.

As part of the program, an investment of 1.6 billion drams for raw material procurement is planned. Currently, there are 135 job positions with an average monthly salary of 264,000 drams. Under the investment program, it is expected that by 2027, the number of jobs will increase to 155, with an average monthly salary of 315,000 drams.

The value of the goods presented for exemption amounts to 1.6 billion drams, and the estimated exemption from import duty is valued at 270 million drams. Aleksanyan plans to import 350,000 kilograms of buffalo meat from India, along with 900,000 kilograms of pork fat from Italy, and 300,000 kilograms of chicken breast from China, which is produced in the USA.