EN
29 May 2003 - 15:09 AMT

YEREVAN MAY BECOME FREE ECONOMIC ZONE

A draft on rendering Yerevan the status of a free economic zone is being arranged by the Armenian government. As reported by “Press-Center.Ru,” commercial operations with jewelry and precious stones are expected to be exempt from most taxes, which on the intention of the state structures, will increase the world jewelry business interest towards the Armenian capital. This, in its turn, will increase the budget receipt of the country and its capital. The bill is to a certain degree stimulated by immutable success of international jewelry expositions, which have already been held in Yerevan for 6 years.