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LAW OF THE REPUBLIC OF ARMENIA

of December 12, 2014 No. ZR-184

About industrial policy

Accepted by National Assembly of the Republic of Armenia on November 19, 2014

Chapter 1. General provisions

Article 1. Subject of regulation of the Law

1. This Law regulates the legal relationship arising during development, implementation of industrial policy, the organization of activities of industrial zones, the relations arising in case of development and realization state and regional development programs of the industry between legal entities, individual entrepreneurs, state bodies.

Article 2. Legislation on industrial policy

1. The legislation of the Republic of Armenia on industrial policy consists of this Law, the Civil code of the Republic of Armenia, the laws and other legal acts governing the customs and tax relations.

2. If international treaties of the Republic of Armenia establish other regulations, than those which are provided by this Law then are effective regulations of international treaties.

Article 3. The basic concepts used in the Law

1. In this Law the following basic concepts are used:

1) industrial policy (further - Yo software) - Yo system of actions directed to carrying out progressive transformations in the industrial sphere according to the state priorities, effective use and development of industrial capacity of the country;

2) objects of industrial policy - Yo legal entities and individual entrepreneurs who are turning out industrial output;

3) the industrial zone - Yo isolated territory which conforms the established this Law to requirements and on which exclusively industrial activity is performed. The industrial zone can have the status of the free economic zone in which exclusively industrial activity is performed and in which business activity is performed according to the features established by the Law of the Republic of Armenia "About free economic zones";

4) the organizer of the industrial zone (further - Yo organizer) - the legal entity created (founded) or chosen as the founder for the purpose of the organization of exclusively industrial zone who provides creation of infrastructures and rendering the services necessary for implementation of activities in the industrial zone;

5) person operating the industrial zone (further Yo-the operating person) - Yo legal entities registered in the Republic of Armenia, the individual entrepreneur or branch, and also representative office of the foreign organization who according to this Law perform exclusively productive activity only in the industrial zone have the relevant agreement signed with the organizer of this zone;

6) authorized body – the state body authorized by the Government of the Republic of Armenia in the field of state policy on industrial zones.

Article 4. State regulation of implementation of industrial policy

1. The government of the Republic of Armenia in the procedure established by this Law and other legal acts performs development and implementation of industrial policy on the following main directions:

1) enhancement of the investment and entrepreneurial circle, including stimulation and assistance of activities of small and medium industrial enterprises;

2) reducing procedures of implementation of tax administration;

3) simplification of procedures of export and import;

4) ensuring availability and reach of the credits in priority industries, centralization of tax information;

5) reducing terms of bankruptcy and liquidation of legal entities;

6) creation of investment and venture funds;

7) implementation of procedures of creation of industrial zones;

8) providing financial support;

9) provision of credit guarantees;

10) joint financing of personnel retraining programmes;

11) rendering financial and technical assistance in the field of implementation of management systems internationally acknowledged quality;

12) stimulation of implementation of researches and developments;

13) attraction of external investments;

14) stimulation of specialization of areas and intra republican cooperations;

15) ensuring availability of the foreign markets;

16) comprehensive stimulation of innovations, assistance to technology transfer and knowledge, strengthening of communication between science and production with reducing term from implementation of scientific thought in production before creation of prototype of goods.

Article 5. Development of state policy of development of the industry

1. Development of single state policy of development of the industry is provided with authorized body by means of project development of strategy, concepts, target programs and other program documents which affirm the Government of the Republic of Armenia.

Article 6. Implementation of state policy of development of the industry

1. State policy of development of the industry is developed and performed by the Government of the Republic of Armenia in case of means of state bodies and bodies of territorial administration in the procedure established by the law.

2. Powers of the Government of the Republic of Armenia in the field of implementation of state policy of development of the industry are:

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