Space Activities to be Developed in Armenia Economy with Being Granted Tax Benefits

Hakob Arshakyan, High-Tech Industry Minister of Armenia, remarked that there is a need to regulate and promote space activities in order to employ space research and industry in an advantageous way for the whole Armenia economy. The solution to the issue was the approval of a draft law on space activity by the government. Currently, the space activities in Armenia are regulated only by international law.

Space activities are expected to be included in the list of activities subject to licensing and to provide these companies with tax privileges until 2030," said the minister.

He also added that new jobs, as well as new infrastructures, will be created due to the creation and promotion of the space sector in Armenia.

Hakob Arshakyan noted that the activities of the two companies operating in this field will be promoted in Armenia as a result of the legislative package.

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Space activity in Armenia to have tax benefits, News.am (October 24, 2019) (in English)

Armenian Government to Develop Space Activities with Tax Benefits