Free economic zone in Syunik to function until October
Free economic zone (FEZ) in Syunik will function until October of ongoing year. Suren Karayan, Minister of Economic Development and Investments of Armenia, told reporters today.
“Only construction works will comprise USD 3 million,” he said.
According to the Minister free economic zone will be established as a result of public-private investments and will cover 32 hectares area, “Investors will be from different fields, different countries, there is initial agreement with Russia, Georgia, Kazakhstan, Belarus, European organizations.
During the operation of the free economic zone, it is expected to attract up to 120 operators, mainly foreign ones, whose investments will comprise over USD 350-400 million and who will export over USD 100 million average annual product and will create more than 2500 new jobs during the years of activity.
Gayane Khachatryan
