A regular Cabinet meeting took place today, chaired by the Prime Minister of the Republic of Armenia Nikol Pashinyan.

The Government approved the procedure and conditions for granting, refusing and terminating partial refund of investments in the film industry, the list of goods, services and works directly related to film production, which are included in the costs subject to partial refund of investments, and the conditions for determining the amount of monetary expenses subject to return and the norms for calculating them. The regulation primarily stems from the need to implement the Law “On Cinematography”, as well as to develop film production in Armenia, promote economic growth and expand international cooperation. The purpose of the decision is to launch a mechanism for partial refund of investments in Armenia, develop the film industry, expand international cooperation in the sector, ensure economic growth and increase the competitiveness of the labor market in the country, and promote the country's reputation and international positioning.

As noted by the Minister of Education, Science, Culture and Sport of the Republic of Armenia Zhanna Andreasyan, favorable conditions will be created for foreign investments in the film industry, joint production will be promoted, economic activity in the sector will be fostered, which will contribute to the generation of additional income, the promotion of cooperation with foreign and international organizations, as well as the increase in the competitiveness of film professionals in Armenia. "Accordingly, foreign filmmakers, in the case of filming a film, including with filmmakers from the Republic of Armenia, can submit an application within the framework of the monetary expenses invested for the purpose of film production in the territory of the Republic of Armenia and receive a part of the investment back under the conditions and format established by the decision. For a partial return on investment, it is necessary that goods, services and works directly related to film production be purchased from Armenian resident, tax-paying organizations and individual entrepreneurs," said Zhanna Andreasyan. Zhanna Andreasyan also noted that an additional return of up to 10 percent of investments can be implemented in case of presence of elements for popularization of the Republic of Armenia. "It is important to consider that the return of the base 25 percent makes Armenia competitive among neighboring countries, encouraging foreign film producers. And the return of the additional 10 percent also creates opportunities for the promotion of our republic before a wide international audience," the minister said, informing that there are already signed memoranda with international organizations.

In order to provide state support to stimulate the development of various branches of animal husbandry, the Government made amendments and additions to the previously adopted decision. Accordingly, two more programs aimed at promoting animal husbandry have been included in the decision.

The government adopted a decision on the "Engineering City" program, in particular, on the component of land plots donated to resident companies. The issue was presented by Minister of High-tech Industry Mkhitar Hayrapetyan, who noted: "The point is that at the moment there are still vacant lots for the 20 originally planned resident companies. And secondly, in recent months the Ministry of High-tech Industry has received applications from several large companies to become resident companies in the "Engineering City" territory, but on the condition that the initially established restrictions on land plots, namely to provide companies with land plots of up to 500 square meters, create difficulties for these companies, in the sense that these engineering companies need land plots exceeding 500 square meters, where appropriate engineering devices, equipment, assembly lines, and data centers must be installed."