Foreign filmmakers will now have the opportunity to receive a rebate of up to 35% on their filmmaking investments in Armenia. The decision was adopted during the Cabinet meeting on Thursday, reports Armenpress.
The incentive also applies to film productions jointly developed by foreign and Armenian filmmakers.
According to Zhanna Andreasyan, Minister of Education, Science, Culture and Sport, the goal of the incentive is to create favorable conditions for foreign investment in Armenia’s film industry, promote co-productions, and stimulate economic activity by generating additional revenue. She added that the decision aims to more effectively harness the commercialization potential of Armenian culture while enhancing the competitiveness of local film professionals and strengthening cooperation with international organizations.
Filmmakers who acquire related goods and services from resident companies or entrepreneurs in Armenia will be eligible for a rebate of up to 25%. An additional 10% rebate will be granted for promoting Armenia within the film.
Andreasyan noted that while several joint film production projects are already underway in Armenia, the sector has faced limited state support, low private investment, and a lack of favorable conditions for foreign filmmakers. Between 2019 and 2024, the Armenian government allocated an average of 309 million drams annually to the film industry, while filmmakers themselves invested an average of 655 million drams per year.
She also referenced preliminary agreements with multiple international platforms, including memorandums with companies like Netflix, stating that the new incentive will help advance those collaborations.
Prime Minister Pashinyan praised the measure, emphasizing the importance of encouraging partnerships between Armenian filmmakers and international studios. “Basically, this is an asset in their hands as a co-investment, so that they are able to establish partnerships,” he said. He also stressed that the process must remain transparent and predictable for the government, investors, and the public, and that potential beneficiaries should be properly informed about the opportunity.
