On September 15 meeting Armenia’s Government approved of a decision on granting Ecotomato CJSC extension on debt payment of VAT for the second time with an amount of AMD 680 million.

The company aims to found hothouse economy for growing A class roses in the village of Goght in Kotayk Region with advanced technologies of the Dutch company Dalsem.

Tigran Davtyan, Armenia’s Minister of Economics said that Armenia’s government has already assisted the company and approved of a decision on extension of VAT payment for AMD 1,9 billion which was spent on importing equipment. Today’s decision will allow the company to ease tax burden on import of modern equipment. According to him the volume of company’s investments will total AMD 2,6 billion, which will result in opening 30 new working places.

Ecotomato CJSC expects to mark the beginning of works of hothouse economy in the first quarter of 2012. The product will be fully exported to Russia.