Space activity in Armenia to have tax benefits

default.jpgThe government approved a package of draft laws on space activity and related laws on Thursday.

The issue was presented by High-Tech Industry Minister y Hakob Arshakyan, noting that there is the need to regulate space activities and develop them to the level of economically advantageous utilization for space research and industry, which in turn will promote the development of other areas of activity in the country. Currently, space activity in Armenia is regulated only by international law.

According to him, in Armenia it is necessary to regulate space activities and develop them to the level of economically advantageous use, which will promote development of other spheres of the country.

"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," the minister said.

The creation of the space sector in Armenia and the encouragement of activities in this field can be of great importance not only for the creation of new jobs, but also for the creation of infrastructures, he said.

Hakob Arshakyan informed that there are two companies in this field which are currently being negotiated and this legislative package will promote their activity in Armenia.

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