Business Armenia has released a marketing package presenting investment opportunities of Armenia’s Jewelry sector. According to the research included in this package, Armenia is the second largest exporter of diamonds in the CIS region.
Last year, more than 50% of Armenian jewelry industry production was exported to Switzerland. The sector constitutes 13% of Armenia’s total export. The jewelry production increased by 36% in 2017 alone and the average annual growth of diamonds processing was more than 50% between 2014 and 2017.
Among the incentives in the jewelry industry is VAT discharge for import and sale of gold and valuable stones, no VAT for sale of unfinished gold jewelry, as well as the existence of a free economic zone for the companies operating in jewelry, watch-making and diamond cutting industries.
The video is part of Business Armenia’s “Make your move, Select Armenia” campaign.