An agreement of free economic zone setting in Syunik region is signed in Armenia
ArmInfo. An agreement between the Ministry of Economic Development and Investments of Armenia and " Syunik Free Economic Zone" LLC has been signed on April 19 by Minister Suren Karayan and SFEZ LLC head Eduard Ghukasyan.
The main target of the document signed is to create a free economic zone at Iranian border , in the town of Agarak. It is supposed that the zone mentioned will comprise processing sector, energy supplies, wholesale, transportation, stock houses creation.
It is planned that the free economic zone woill be launched from October 2017. At the first stage the funding will comprise about USD 10 mln. It is planned also that the zone will be used about 120 beneficiaries, who will invest about USD 350-400 mln. About 2500 new jobs will be created, and annual export volumes will reach USD 80-100 mln.