YEREVAN, SEPTEMBER 22, ARMENPRESS. Armenia’s government permitted ERA Technology Ltd engaged in production of “smart” wallets to carry out activity in Alliance Free Economic Zone which is exempt from corporate taxes, reports Armenpress.

Garegin Melkonyan – deputy minister of economic development and investments, said the company will implement 2.3 million USD investment program by creating 15 new jobs, and later reaching this number to 50.

“In 2018 the company plans to export 0.5 million USD products, and reach the volume to 2 million USD in upcoming years”, the deputy minister said.

The Smart wallets have the following functions: distance alarm, global GPS tracking, thief detection camera.