ArmInfo. On December 7, the Armenian government approved a draft decision on the creation of the free economic zone "Meghri" on the border with Iran. The FEZ Meghri CJSC, established by the Government of Armenia, was recognized as the FEZ organizer.
According to the Minister of Economic Development and Investments of Armenia Suren Karayan, work has already been completed to create the necessary infrastructure for FEZ functioning. "This decision will start the activities of the FEZ," the minister said. According to him, the zone will develop in stages. At the second and final stage, the territory of the FEZ will be 70 hectares. It is expected that in the FEZ in the next few years will include about 50-70 companies that will make investments worth 130-150 million USD. About 1500 new jobs will be created. The volume of exports will amount to 350 million USD.
Earlier, the press service of the Armenian Ministry of Economic Development and Investment stated that the opening of the first stage of the Meghri Free Economic Zone is scheduled for December 15.
The total cost of construction of FEZ in Meghri is estimated at $ 32 million, of which $ 28 million is capital expenditure. The construction of the FEZ on the border with Iran is one of the priority investment programs of the Armenian government and provides for the creation of a free economic zone with an area of 10-15 hectares, with the possibility of further expansion to 45-50 hectares. The Ministry of Economy has repeatedly stated that despite the fact that the FEZ has not yet been built, there are already numerous applications from various companies that expressed a desire to start work in the FEZ - more than 10 companies from Russia, also from Iran and Europe. According to the Ministry of Economy, operation of the FEZ will create 2,500 jobs and increase exports from Armenia by 30%. The main goal of the FEZ is the development of trade and economic relations with Iran and other countries of the region, the development of the Syunik region, as well as the positioning of Armenia as a link connecting Iran with the EAEU countries and Georgia.