Productivity Enhancement Target Program
BENEFICIARIES
The beneficiary of the program is a commercial and non-commercial organization or individual entrepreneur registered and operating in the territory of the Republic of Armenia.
CONTENT
The purpose of the program is to provide economic entities with access to affordable financial resources in order to modernize their production capacities and promote the introduction of new technologies in the Republic of Armenia. The support is provided in the form of interest rate subsidies on targeted loans/leasing obtained by economic entities from licensed banks or credit organizations operating in the territory of the Republic of Armenia (including loans provided within the framework of programs implemented with international development organizations, as established by the Government of the Republic of Armenia Decision No. 619-N of June 8, 2017).
The support applies to loans/leasing provided to economic entities for the following purposes:
-
Purchase or import of new (unused) machinery and equipment to be used within the territory of the Republic of Armenia;
-
Capital construction carried out by a contractor organization that is a VAT payer, including installation and maintenance of machinery and equipment, only in cases where the economic entity has acquired new (unused) machinery and equipment;
-
Acquisition of digital programs or platforms for the purpose of digitalizing the company’s business processes;
-
Engagement of consulting services and experts to increase the company’s productivity;
-
Capital construction for the construction or reconstruction of hotel facilities defined under Article 12, parts 1 and 4 of the “On Tourism” Law, carried out in the regions of the Republic of Armenia (excluding Yerevan), with the involvement of a VAT-paying contractor organization, provided that the investment project meets the minimum requirements and standards established by the mentioned law and other legal acts regulating the sector, as well as the priorities of the state tourism development policy.