News - Armenia Extends Livestock Investment Initiative

YEREVAN, April 23 – The Armenian government, in a recent meeting, approved a 1.5-year extension of its experimental livestock investment support program, which entails approximately 82.4 billion drams in investment. Initially launched in 2022, the program has already facilitated the signing of 11 contracts aimed at enhancing investment levels in the livestock sector to boost food self-sufficiency and diminish import reliance. Economy Minister Gevorg Papoyan stated the investment minimums are set at 500 million drams for border areas and 1 billion drams for non-border areas, with a cashback incentive of 40% on capital expenses. Papoyan noted that within the program, a project has already been realized, particularly with investments totaling 11.7 billion drams and state support of 2.3 billion drams, though approximately 2.4 billion drams have been paid in taxes thus far. Other investment efforts include about 15.2 billion drams, impacting fields such as poultry farms in Spitak and Arax, Idejevan's 'Bakon' company, and the cattle breeding sector. Challenges have arisen due to administrative procedural delays in ecological expertise processes, project approvals, and construction permits, causing investment programs to exceed anticipated timelines. Concurrently, Armenia plans to implement a new program concerning the establishment of large 'smart' livestock farms accommodating 1,000 or more cattle starting January 1, 2027. This development aims to propel the livestock industry into a more technologically advanced future, addressing not only quantity but also quality and sustainability.