Thursday, August 30 2018 14:49
Alexandr Avanesov

New FEZ will be established in Armenia, CJSC "ECOS" will act as organizer

New FEZ will be established in Armenia, CJSC "ECOS" will act as organizer

ArmInfo. A new Free Economic Zone (FEZ) will  be established in the Armenian city of  Hrazdan,, organized by ECOS CJSC. The decision on this was taken at a Government meeting on August 30.

 

Presenting the draft decision, Minister of Economic Development and Investments Artsvik Minasyan informed that the company undertakes to involve about 200 beneficiaries in the zone until 2043. It is envisaged that ECOS CJSC itself will open 23 workplaces while beneficiaries will open 300 jobs. At the same time, the company will invest $ 4 million into the zone by 2021, beneficiaries - $ 15 million. At the same time, the investment volumes will further increase by another $ 30 million. FEZ will consist of two components - production and office. The production area of 4.3 hectares will be located at the Hrazdan Thermal Power Plant, and office buildings in Yerevan. "In Hrazdan there will be a mining center, that is, activity based on block chain technologies," the minister said, adding that it would be the 4th FEZ in Armenia. According to him, the project aims to provide foreign direct investments, increase the investment attractiveness of the country, open  new jobs, etc. The period of FEZ is 25 years.  He also said that 13 beneficiaries work  in "Alliance" FEZ they have invested 2.8 billion drams in the past few years and opened  326 jobs. In the "Meridian" FEZ 6 beneficiaries were registered, who made investments in the amount of 8.2 billion drams and opened 181 jobs. "Meghri FEZ " is in the process of establishment , in which 5.2 billion drams have already been invested. It is   that a working group will be formed by the decision of  RA Prime Minister Nikol Pashinyan, which will open  two new areas in the border area in "Meghri"FEZ.  There is active cooperation with the NSS on this issue,.

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