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President Sargsyan Met with Owners of Mining Companies

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  • President Sargsyan Met with Owners of Mining Companies

    Economic News (Information Agency Oreanda), Russia
    May 3, 2011 Tuesday


    President Sargsyan Met with Owners of Mining Companies


    Yerevan . OREANDA-NEWS . May 03, 2011. President Serzh Sargsyan
    invited a meeting at the administrative office of the Vellex Group
    companies, which was attended by the managers and owners of the mining
    companies operating in Armenia. Before the meeting, the President was
    briefed on the investment programs of the Vellex Group companies and
    results of the activities of the companies comprising the Group in
    mining, metallurgy, tourism and other areas.

    At the beginning of the meeting, Serzh Sargsyan underscored that the
    main goal is to discuss with the representatives of the companies
    issues pertinent to the present and the future of mining industry in
    Armenia, development programs of the companies engaged in that area,
    their cooperation with the government and the State Revenue Committee
    as well as to speak about problems existing in the area of mining and
    avenues to address them.

    As you already know, we have started the process of reformation in the
    tax and customs areas, and a couple of days ago, at the sitting of the
    National Security Council we approved a three-year plan of reforms in
    the tax and customs areas which is aimed at easing the burden for the
    taxpayers and simplification of the entire system.

    Several day ago, the government came up with a new initiative which
    has already been qualified by the experts as tax amnesty. In fact, its
    not a tax amnesty. Its a proper approach which created exceptional
    opportunities for the companies to work with the State Revenue
    Committee, develop the timetable for the cancellation of the unpaid
    taxes from the previous years and let off fines and penalties. It is
    beneficial for the businesses, and it is beneficial for the state. I
    believe, many of you have already started to work electronically with
    the tax structures, and it undoubtedly opens a new page in our
    interrelations. There will be no shortage of alike initiatives in the
    future, President Serzh Sargsyan said at the meeting with the
    representatives of the business community.

    President Sargsyan noted that interaction between large, as well as
    small and medium enterprises will be based on cooperation - work style
    that leads to the creation of artificial problems is unacceptable for
    the state. Serzh Sargsyan underscored that in the process of
    reformation there must be no reduction of budget receipts, I simply
    rule it out, because we cannot reduce social, educational, health
    care, or defense expenses. There will be no unpaid or long overdue
    pensions or wages. We simply rule it out. Thus, during the process of
    reformation, we all need to be very constructive, since such
    approaches emanate for the interests of the businesses and the state
    alike, and I anticipate that your joint activities will be continuous
    and efficient.

    I have started my series of meetings with major businesses from the
    mining area because mining is an important part of our economy. Todays
    prices at the international market of non-ferrous metals allow to draw
    new programs for development and look toward the future with greater
    confidence. Thats another reason why I urge you all to expand, to
    create new programs. On one hand, the owners will get more profit, on
    the other, new jobs will be created, and the state, naturally, will
    get additional tax revenues, President Sargsyan said.

    At the meeting, the Minister of Economy Tigran Davtian presented the
    general economic outline of the mining industry, of the current
    problems and state approaches on the resolution of these problems and
    designs for the development of the mining area. Later, the Head of the
    State Revenue Committee Gagik Khatchatrian spoke about the
    peculiarities of the mining area and tax policy which is based on that
    peculiarities. He also presented the dynamics of the areas development
    and, respectively, tax collection rate; he also spoke about
    cooperation between the SRC and the companies engaged in mining.
    Afterwards, there took place a discussion on the presented approaches
    and proposals.




    From: A. Papazian
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