Government grants new tax exemption to Samvel Aleksanyan's company

The Armenian government has approved another customs duty exemption for Alex Textile, a company owned by businessman and former MP Samvel Aleksanyan. The privilege applies to raw materials imported by the company for use in garment production.

According to the project justification, the company plans to invest 337 million drams in purchasing raw materials. Currently, Alex Textile employs 42 workers with an average monthly salary of 160,000 drams. Under the investment program, the company pledges to increase staff to 52 employees by 2028, raising the average salary to 200,000 drams.

The customs exemption amounts to approximately 30 million drams. The government says that the imported raw materials are not sourced from EAEU member states, as they do not meet the company’s technical requirements.