The Armenian government approved the organizer of FEZ "Meghri"

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.