The government has approved the expansion of an investment project by PAPRIKA company, which involves the construction of an 11.2-hectare modern greenhouse complex in the village of Tsaghkunk, Sevan community. The facility is set to cultivate bell peppers, for which the company is now importing an additional 243 million AMD worth of raw materials. The list of imported goods has been supplemented with coconut fiber and bell pepper seeds, which will enable the efficient organization of the production process.
The total cost of the project is approximately 2.1 billion AMD. By government decision, the company will benefit from a customs duty exemption estimated at 111 million AMD. This incentive aims to boost local production and export volumes while creating new jobs. According to ministry estimates, this will not directly affect state budget revenues or expenditures, but it is significant for expanding agricultural production through modern technologies.
The establishment of such large greenhouse complexes indicates a trend toward increased technological integration in agriculture, which directly impacts regional economic activity. It remains to be seen how these production volumes will align with export opportunities, considering market competition. We have yet to see how the promise of job creation will materialize in the coming months.
The establishment of such large greenhouse complexes indicates a trend toward increased technological integration in agriculture, which directly impacts regional economic activity. It remains to be seen how these production volumes will align with export opportunities, considering market competition.
We have yet to see how the promise of job creation will materialize in the coming months.
