New working places to be created in Armenia.

A Cabinet sitting was held today, chaired by Prime Minister Tigran Sargsyan.

The meeting decided to extend up till March 3, 2015 the deadline set for VAT settlements by VKS Armenian LLC for the goods imported under the “temporary import” regime. Strong with its 540 operating staff, the company imports raw materials from European partners and has provided AMD 1.88bn-worth services since 2008. The decision seeks to maintain the existing jobs and create new ones, as well as to double the exports by the year 2014.

Considering that in its capacity of 100% trust manager of the Armenian NPP CJSC, Inter RAO EES OJSC has fully complied with the obligations assumed since 2003 and has applied to the Ministry of Energy and Natural Resources to terminate the management contract ahead of schedule, the meeting decided to authorize the Minister of Energy and Natural Resources to act on behalf of the Government of the Republic of Armenia and conclude an early contract termination arrangement with Inter RAO EES OJSC.

The Executive backed the proposal on signing an agreement with the Government of the Republic of Kazakhstan on the principles of levying indirect taxes for imported and exported goods (works, services).

The meeting decided to allocate AMD 7,093mn to the Ministry of Sport and Youth Affairs for hosting in Yerevan the upcoming March 26-27, 2012 session of the CIS Council on Physical Culture and Sport.