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Armenian Minister of Economy Gevorg Papoyan lauded on Thursday the country’s metal manufacturing industry.
He said Armenia was once a country exporting scrap metal but has now become a nation manufacturing finished metal and steel products fully meeting domestic demand with aspirations of exports.
He made the remarks at the Cabinet meeting, presenting the new licensing procedure for rebar imports. The bill stems from the recently adopted law which levies a 29-thousand-dram base duty per 1 ton of imported metal products.
He credited the government’s work for the 150 million dollars in investments over the past few years in the industry, which led to 1000 new jobs and growing use of local ferrous and non-ferrous scrap metal.
“Thanks to the government’s policy, the factories in Armenia that produce finished metal goods are entirely covering the domestic market and have aspirations for exports,” he said, adding that Armenian producers make not only rebars but also aluminum batteries.