Friday, February 17 2017 18:09
Naira Badalian

Economy Minister: The question on FRZ company-operator in Meghri remains open

Economy Minister: The question on FRZ company-operator in Meghri remains open

ArmInfo. By now, the government of Armenia has received numerous requests from local, Russian, Iranian and European companies to obtain the status of FEZ operator.  This was stated by Head of investment policy of the Ministry of Economic Development and Investments of Armenia Vahagn Lalayan on 17 February, representing to journalists the investment programs presented on the new website investmentprojects.am.

Vahagn Lalayan once again pointed out the establishment of FEZ in the Syunik region of Armenia in the city of Meghri on the border with Iran, including the Armenian Government's priorities. According to him, the cost of the FEZ establsihment program between Armenia and Iran is estimated at approximately $28mln, and the total amount will be approximately $32mln based on current costs. In the first stage it is expected that the FEZ will occupy an area of 10-15 hectares, as it is considered that at the current stage will be established logistic and production facilities, as well as offices and warehouses. But it is planed to expand the territory of the free economic zone up to 45-50m in the future. In the result, tourist infrastructure will be built.

The project, as stated Lalayan, will provide products manufactured in FEZ to EEU states, free access to the Iranian market, and to Iranian businessmen a hassle-free access to the Eurasian market. In addition, European companies may also be interested in the project, which will have access both to the Iranian market and EEU markets.

By today, one Iranian company expressed a desire to purchase the territory of about 6thsd sq/m in FEZ territory. However, Lalayan refrained to name the names of investors willing to invest in the establishment of FEZ, as well as the terms of its implementation, noting that the search of the host company continues.  "We hope to resolve this issue before April, I remind that according to the Law of the Republic of Armenia on FEZ, the host company the is given a maximum of a year in the organization of the work", he explained, adding that he also considered the possibility of participation of different companies in a consortium.  Earlier it was reported that amount to $52mln, while the number of employees of the company-operator is 60-70. According to our forecasts, in 10 years will be attracted 120 companies that will export products amounting $80 - $100mln annually. Iran, Eurasian Economic Union (EEU) member states, as well as Middle East states are identified as target states for export. In terms of investment, according to general forecasts, it is expected to attract about $350 - $400mln. In previous month, in the fields of the Armenian- Iranian business meeting, the Iranian carmaker "Iran Khodro" representative in Armenia, director of "Rena" Reza Nafez expressed readiness to invest $1mln in the establishment of FEZ, and the executive Director, the Chairman of Board of Directors of "Aras" Iranian FEZ on the border with Armenia Mohsen Khadem Arab-Bughy said that at this stage there are discussions with the Armenian side aimed at finding out how and in what format, Iran can assist Armenia in creating FEZ.

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