30/08/2018 12:24
Free economic zone to be established in Armenia’s Hrazdan
Armenia’s cabinet approved at its sitting today the private initiative of “Ekos” CJSC to establish free economic zone in Armenia’s town of Hrazdan, Kotayk marz.
“This decision confirms our policy addressed at basing Armenia’s economy on high technological innovations,” Economic Development and Investments Minister Artsvik Minasyan said, reporting on the issue.
He said the investment project intends engagement of over 50 exploiters by 2021 and 200 by 2043.
“In the initial phase of the program the organizer intends to open 22 new jobs and some 300 new jobs are expected to be opened by the exploiters,” he said, adding that according to initial calculations, the organizer is planning to make 4 million USD investments while the exploiters are expected to make 15 million by 2021 and another 30 million USD in future.
The minister said that the free economic zone will have two territories – the production sector will be in Hrazdan, the office will be located in Yerevan.
“It will be the 4th free economic zone in Armenia,” Artsvik Minasyan said.
“Ecos” company has been recognized the exploiter of the free economic zone for 25 years.
The free economic zone is expected to start operating within a year.
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