ArmInfo. The issues of organizing the free economic zone (FEZ) in Syunik region were discussed on March 23 during a meeting in the government of Armenia, the press service of the country's executive body reports.
Minister of Economic Development and Investments of Armenia Suren Karayan reported that as a result of discussions with representatives of the CCI of Armenia and LLC "Free Economic Zone of Syunik" it is planned to create an organizational company for FEZ in Syunik.
The head of the government presented steps on the formation of the FEZ, the public-private partnership, the organization of the first stage and the implementation of the risk management program. It was noted that for the implementation of the first stage of works it is planned to invest $ 2.5-3 million, and the duration and deadlines for the completion of construction will be established by the decision of the Government of Armenia.
Karen Karapetyan instructed to speed up the process and submit a draft decision on the creation of FEZ in Syunik at the forthcoming meeting of the Government. The head of government noted that by adopting the relevant decision the Government will approve the application for the creation of a free economic zone in Syunik, and in autumn 2017 the FEZ in Megri will start operating.
According to an early statement of the Armenian Ministry of Economic Development and Investments, the Armenian government received numerous applications from local, Russian, Iranian and European companies to obtain the status of an operator of the FEZ. The cost of the program for creating a free economic zone between Armenia and Iran is estimated at about $ 28 million, and taking into account current costs, the total amount will be about $ 32 million. At the first stage it is expected that the FEZ will occupy the territory of 10-15 hectares, since it is considered that on this tape will be located production and logistics facilities, as well as office and storage facilities. But in the future it is planned to expand the territory of the FEZ to 45-50 hectares, resulting in the construction of tourist infrastructure.
It was also reported that for 10 years the income of the company-organizer of the FEZ will be $ 52 million, and the number of employees of the company, the organizer of the free economic zone, from 60 to 70 people. According to the forecasts, 120 companies will be attracted over 10 years, which will export $ 80- $ 100 million per year. Iran, the countries of the Eurasian Economic Union (EEU) and countries of the Middle East are defined as target countries for export.